Stop! Don’t Do This When Buying!

Are you preparing to buy a home? Avoid these common mortgage mistakes that could jeopardize your dream of homeownership. 🏡 As exciting as it is to be on the brink of closing on your new house, it's crucial to avoid these costly pitfalls before securing your mortgage:
Don’t Deposit Large Sums of Cash: 💰 Lenders need to trace your funds, and cash deposits lack traceability. Consult with your lender to ensure any large deposits are properly documented.
Avoid Large Purchases or New Credit: 🚗 Major purchases like cars, appliances, or even new furniture can hurt your FICO score and affect your loan approval. Always check with your lender before making any big purchases.
Don’t Cosign Loans: 👨‍👩‍👦 Cosigning loans can make you financially accountable, impacting your ability to secure a mortgage. Help family after your transaction is complete.
Stay Consistent with Bank Accounts: 🏦 Changing bank accounts during the loan process can raise red flags and potentially disqualify you. Keep your finances stable to ensure a smooth process.
If you need more information on what to avoid during the mortgage process, I'm here to help. I'm Amy Grafenstein with RE/MAX Results, and I'm dedicated to guiding you beyond the closing table. Contact me for personalized advice and let's navigate this journey together! 💪