5 Things to Avoid When Purchasing a Home

There are five major things to avoid before applying for a loan and during the loan process itself. The following can greatly impact your ability to qualify for a mortgage loan.

Do Not Change Jobs - Changing jobs causes problems in qualifying for a loan, particularly if that job is in a different line of work or at a lower rate of pay. This can also cause delays during the loan process.

Do Not Switch Banks or Move Your Money Around - It is best to leave your money right where it is until your loan has closed. Moving money to a new bank or into a new account can negatively effect the verification process.

Do Not Pay Off Bills- Your loan officer will advise you if it is necessary to pay off bills in order to qualify for a loan. They will also show you the proper method of how to pay off your bills.

Do Not Make Any Major Purchases - Large monthly payments can affect the amount for which you qualify and makes it difficult to have a loan approved. Funds to Close - Please check with your lender regarding funds to close. Some programs DO NOT allow gift funds.

Funds To Close - Please check with your lender regarding funds to close.  Some programs DO NOT allow gift funds.

Contact your loan officer if you must do any of the things listed above. They may be able to help pre-qualify you or advise you with different options.

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The Janice Rosenberg Team are RE/MAX UNITED agents serving the greater Raleigh, Garner, Wake Forest, Cary, Apex, Holly Springs, Durham and Chapel Hill NC real estate areas. If you are looking for homes in Raleigh, Durham or the surrounding Wake County area, try our home search.