GENERAL FINANCING QUESTIONS Tips for Homebuyers 1. WHAT IS A MORTGAGE? Generally speaking, a mortgage is a loan obtained to purchase real estate. The "mortgage" itself is a lien (a
The 10 COMMANDMENTS When Applying For A Loan
THE TEN COMMANDMENTS
When applying for a mortgage
1. Thou shalt not change jobs, become self-employed or quit your job.
2. Thou shalt not buy a car, truck or van (or you may be living in it)!!
3. Thou shalt not use credit cards excessively or let current accounts fall behind.
4. Thou shalt not spend money you have set aside for closing.
5. Thou shalt not omit debts or liabilities from your loan application.
6. Thou shalt not buy furniture.
7. Thou shalt not originate any inquiries into your credit.
8. Thou shalt not make large deposits without checking with your loan officer.
9. Thou shalt not change bank accounts.
10. Thou shalt not co-sign a loan for anyone.
All of these Commandments are written in stone and will cause all kinds of problems if you are in the process of buying a home. You need to work with a seasoned loan officer and Realtor when purchasing your first home so they can help guide you past all the pitfalls that can happen. I work with several loan officers that are great and can help you. If you have any questions about the above or any Real Estate question in general, please don't hesitate to call,text or email me at any time.
IF YOU DON'T KNOW A GOOD LOAN OFFICER, PLEASE GIVE US A CALL AND WE'LL SEND YOU OVER ONE.
Thanks and have a blessed day.
William Davis Realty
214-850-9014 - Cell
972-625-0852 - Office
http://www.burtonteam.com Search the DFW area for all available listings.
Jerry and Janna Burton joined William Davis Realty in February, 2009. Both Janna and Jerry hold business degrees from the University of North Texas. Janna has been in the real estate business since 19....