Thinking of Buying a Home? 6 Things NOT to Do With Your Finances! by Heather Bragg

Finances
2 years ago
Thinking of Buying a Home? 6 Things NOT to Do With Your Finances!

Shopping for a new home is an exciting time, but did you know you need to get a pre-approval letter from a mortgage broker to see most homes for sale? Here are tips on what not to do from mortgage broker Jennifer De Vries before seeking a mortgage. Do not…

  • Open or close any new credit lines.
  • Move money frequently around between accounts in the most recent 60 to 90 days.
  • Make “cash” deposit into one’s account unless it can be documented.
  • Deposit a large amount (especially cash) into your account unless you can provide the source and document paper trail of the funds and the donor.
  • Do not co-sign for others on their mortgage, student loans, and/or installment loans, etc.
  • Do not change the way income is earned or paid. For example, from an employee (W2) to consultant (1099).

After you get your pre-approval letter, do go find your dream home!

Selling Your Home Isn't Like Reality TV Shows: Here are 10 Cold, Hard Real Estate Facts!

Selling Your Home? How to Decorate It for the Holidays!

Home Curb Appeal: 3 Easy Ways to Improve the Safety & Curb Appeal of Your Home

Moving Into a New Home: 5 Tips to Help You Move Like a Pro!

join discussion

Please login to comment.

recommended tips

Buying a New Car: 4 Things Car Buyers Need to Know Before Heading to the Dealership

10 Creative Ways to Use Baking Soda & Save Money (It's Only $1 a Box!)

Worrying About Money? Here's Why You Should Try Being Grateful Instead!

Preparing Your Tax Return: 4 Life Events That Affect Your Taxes!

Got 30 seconds? Sign up for 30Seconds.com and get the best of our tips each week!