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Applying for a home loan can be overwhelming and mistakes can cost you big time. Let me help you avoid common pitfalls and make the process smoother. Work it, live it, own it with our expert advice on getting a home loan!
Learn how to avoid mistakes when applying for a home loan. We want you to work, live, and own your dream home without any obstacles. Let us guide you towards a successful and stress-free home loan process
Are you a homeowner looking to apply for a home loan? In this video, we'll share some common mistakes to avoid during the application process. Don't miss out on these helpful tips to make your home loan journey smoother. Work it, Live it, Own it!
SaCola Lehr and Connie Ward @cakeandrealestate discuss critical financial behaviors to avoid when applying for a home loan. They outline the "ten commandments" of actions that can jeopardize loan approval, such as co-signing loans, changing bank accounts, making large deposits, and omitting debts. They warn against maxing out credit cards, making late payments, and taking on new loans, as these can harm credit scores. The hosts caution against major purchases and career changes during the home buying process, emphasizing the need for transparent communication with loan officers. They offer resources to educate buyers and stress the importance of informed decision-making for a successful home purchase.
The Ten Commandments of Home Loan Application (00:00:00)
Commandment 1: Co-signing a Loan (00:03:01)
Commandment 2: Changing Bank Accounts (00:06:04)
Commandment 3: Making Large Deposits (00:10:03)
Commandment 4: Originating Credit Inquiries (00:12:36)
Commandment 5: Buying Furniture Before Closing (00:15:52)
Commandment 6: Omitting Debts from Loan Application (00:16:59)
Commandment 7: Spending Money Set Aside for Closing (00:19:12)
Commandment 8: Excessive Use of Charge Cards (00:23:39)
Maxing out Credit Cards (00:24:45)
Buying a Car or Making Major Purchases (00:26:08)
Changing Jobs or Becoming Self-Employed (00:32:10)
Conclusion and Contact Information (00:35:45)
Changing Jobs or Becoming Self-Employed (00:32:10)
Conclusion and Contact Information (00:35:45)
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