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