Amherst, New York
2150 Wehrle Drive, Suite 200
Amherst, NY 14221
716-633-0501

Loan Consultants Suggest What Not to do When Buying a House July 22, 2015

Amherst, Erie
Loan Consultants Suggest What Not to do When Buying a House, Amherst, New York

We’ve all heard tips on what we should be doing if we were on the market for a house. This could be checking our credit score, hiring an agent, or browsing for properties online. But what exactly are some of the things that you should never do when buying a house? 

Premium Mortgage Corporation shares a few tips:

  • Don’t Send Off Any Red Flags on Your Credit Report: Even if you’re in a position to do so, a new credit card or large purchase could deter home loan providers from approving a home loan.
  • Don’t Switch Careers: A steady job equals stable income. Applicants will present themselves in a better light to financial institutions when they’ve maintained the same job for a few years.
  • Don’t Co-Sign Any Loans: Friends and family may request co-signatures with your A+ credit. Nevertheless, saying yes will jeopardize a new application for a home loan.
  • Don’t Close Any Existing Bank Accounts: This action may seem trivial, but when a bank account is closed, a mortgage underwriter will see this and question your financial process.
  • Don’t Pay Bills Late: Take all the necessary steps to pay your bills on time. Automatic bill pay is highly recommended.

To get in touch with a local loan officer for more tips on how to apply for home loans or mortgage refinancing, contact Premium Mortgage Corporation. 

Visit them online, or call your local branch:
Hamburg & Amherst, NY Offices: (716) 633-0501
Rochester, NY Corporate Headquarters: (545) 241-0000
Geneseo, NY Office: (585) 447-9197
Liverpool, NY Office: (315) 457-0926
Barre, Vt. Office: (802) 476-7000

Corporate Contact information:
2541 Monroe Avenue, Rochester, NY 14618
1 (877) 690-7240
NMLS# 3254 | Equal Housing Lender
Licensed Mortgage Banker NYSDFS

Other Announcements, Events and Deals from Premium Mortgage Corporation
Mortgage Loan Rules: Everything You Need to Know About Using Gift Money as a Down Payment, Amherst, New York
One of the most stressful aspects of buying a home is saving up for the down payment that is required for the purchase. In some cases, you may have a family member who wants to help ...read more
Spring Home Sale? 5 Prep Tips From Your Mortgage Loan Partner, Amherst, New York
It won’t be long before the snow melts away and the flowers and warm weather of spring arrives. For many homeowners, this season is a popular time to sell their houses. At Premi...read more
Homeowner Info: What You Need to Know About Your Taxes, Amherst, New York
For many, tax season can get complicated. This can be especially true if you’re a homeowner. However, there are certain deductions you can qualify for when you have a mortgage that c...read more
Mortgage Loan Requirements: How to Determine Your Down Payment, Amherst, New York
The home buying process is full of countless details, but one of the most important aspects is the dollar amount of your down payment. This number has a significant im...read more
7 Key Steps to Getting a Mortgage Loan & Buying a Home, Amherst, New York
The idea of buying a home can intimidate people and leave them feeling uncertain. To give home buyers a road map of the process and help them feel more confident, Premium Mortgage Co...read more