Your credit score is the most important factor in obtaining a mortgage. Avoid doing these things that could affect your score during the process of buying a home.
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There are a number of key things you need to consider when you’re buying a home, and the No. 1 thing is your credit score. There are a few things you want to avoid that can negatively affect that score during the process.
For example, you want to avoid opening new accounts or closing any existing accounts. You should also look at your current credit card balances and usage because lenders will look at that quite a bit.
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Don’t open or close any bank accounts
during the home buying process.
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during the home buying process.
You also need to be aware of debt ratio and make sure it’s strong. You also shouldn’t switch jobs during the process of buying a home. Lenders look for stability first and foremost.
Remember that even though you’re buying a home, don’t go out and buy new furniture. Just wait until you close on that beautiful new home, then you can go buy new furniture.
You want to make sure all these little things are in order so the process goes smoothly. If you have any questions about how to do this, I’d be happy to speak with you. Just give me a call or send me an email soon and let’s keep this conversation going. I look forward to helping you!
You want to make sure all these little things are in order so the process goes smoothly. If you have any questions about how to do this, I’d be happy to speak with you. Just give me a call or send me an email soon and let’s keep this conversation going. I look forward to helping you!
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