Published May 27, 2022
Top 3 Things to AVOID When Trying to Buy a Home
If you are in search
of your new forever home here are top 3 things we highly suggest you avoid
until AFTER you close.
1. Do not open any new
lines of credit
· This will change your
debt-to-income ratio and affect your credit score. Your lender has already
calculated exactly what you have and what you are able to purchase.
2. Do not make any big
financial purchases
· Avoid buying any new
vehicles or trade ins. Wait to celebrate with a big vacation until after
closing and don't do any shopping sprees!
3. Do not quit your job
or get a new job
· With any purchase of
a property, you will need history of a job for a longer period of time (A year
at minimum). Switching jobs in the midst of trying to buy a home, even if it's
a higher paying job, could affect your settlement in a negative way.
Make sure to consult
with your lender if you have any plans to make a big financial decision. If you
need help finding the perfect lender, please reach out and we can set you up
with a trusted lender!
