Preparing to Buy a House: 6 Things Not to Do

 

Preparing to buy a house can be stressful. You’re trying to find the right house, battling other buyers, planning a move, and securing a loan. And when it comes to the loan process, the last thing you want is to drag it out, or potentially stop it, due to preventable missteps. Luckily for you, you have me!

 

Remember, your credit and finances will be monitored right up until your loan closes. Here are 6 things to avoid as you prepare to buy a house. 

 

  • Don’t Disrupt Your Credit Score
    • You’ll receive a credit report during the initial stages of securing a loan. Fight the temptation to seek out (and dispute) errors. Now is not the time to make inquires, cancel cards or pay off debt.

  • Don’t Open a New Line of Credit
    • Just say no to store credit cards, extending an existing credit line (that new bedroom set can wait) or any other changes that will make lenders look twice when you’re preparing to buy a house.

  • Don’t Miss Bill Payments
    • Be sure you’re paying your bills on time. In the stress of preparing to buy a house, it’s easy to let a payment slip past, but it could have serious consequences. That’s especially true for missing mortgage payments. If you are still paying another mortgage or own a rental property, be sure you’re up to date.

  • Don’t Move Money Around
    • Wait until your home closes to make any big transfers, deposits or withdrawals. Your loan approval is based on the financial picture painted at the time of application.

  • Don’t Change Jobs
    • During the mortgage loan process, change — even good change — could set you back.

  • Don’t Lease or Buy a Car
    • To a lender, a car represents more debt.

 

Feel free to give me a call/text: (337) 945-6763 with any questions throughout the house hunting phase. I’d be more than happy to help!

Homes for Sale in

Lafayette

Abbeville
Breaux Bridge
Carencro
Church Point
Crowley
Duson
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Ted M. Daigle eXp Realty

 337-243-6108

ted.daigle@exprealty.com

www.337homesearch.com

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www.listingwithted.com

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