Posts from January 11th, 2021

You applied for a mortgage. Now what?

You've found your perfect home, applied for a mortgage, and are waiting to close. It's very exciting to buy a house and think about how you're going to make it your own home, but there are a few key things to keep in mind before you close. 

Below is a list of things to avoid doing after applying for a mortgage. Avoiding these actions can help ensure your financial lender will approve your home loan.

1. Avoid depositing large amounts of cash into your bank accounts before speaking with your lender. Because cash isn't easily traceable, you should discuss with your lender the best way to document your transactions.
2. Avoid buying a new car, furniture, or any other large purchases. To qualify for borrowing a loan, you need a lower debt-to-income ratio. To have a lower ratio, you need to meet certain qualifications with your lender. And to ensure those qualifications don't chang...

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