AVOID | Changing Jobs – Don’t delay yourself. Change Jobs after you buy your home….
- Lenders look for a minimum of an unbroken 2 year History. There are exceptions to this. One is coming out of school or Trade School with training for that specific Job, especially where its licensed such as Nursing, and having a long term contract for hire with a company.
- Transfers to New Jobs in the same profession, such as transferring to a new hospital, but doing the same job title, can sometimes be done after 6 months at the new job.
AVOID | Large Purchases such as New Cars – Lenders take this off your ability to pay the loan, and count monthly payment liabilities against your Debt to Income Ratio, lowering your Purchase Power – An example of this(Hypothetically Speaking) would be: if a loan costs you $600 per $100,000 borrowed, then a $300 per month payment could loose you $50,000 off your Purchase Price! Thats a big difference in they kind of home you’ll be looking at.
- Don’t Buy a New Car
- Don’t Lease a Car
- Wait till after you buy or buy a used car cash
- Definitely do not Buy a car after you are in contract or you will likely screw up your whole deal
DON’T | CREDIT: Don’t make all the Credit Decisions on your own and Don’t try to Fix Your Own Credit without Guidance: Before you fix your Credit, talk to your lender, or contact me for my Credit Polishing Expert. He can take your Score from Good to Stellar …..and he can also help you Recover from Identity Thefts | Repair Bad Credit
DO | CREDIT: Do your Research. Watch some Youtube’s on how to improve your Credit Scores
KNOW | CREDIT: Lenders take the MIDDLE SCORE, not the High Score when computing your Qualifying FICO or CREDIT Score
AVOID | CREDIT: Multiple Credit Inquiries can also have a big affect on your Credit Score. Just looking at cars, they all want to have your name and ID to run your credit to see what they can qualify you and sell you on. Specifically forbid them running your Credit, walk in with a computer print out of a letter demanding that your credit not be checked. Many may try to check it on the sly. (One exception to this is on Home Loan Credit Pulls. Yes they do give a temporary ding to your score and later drop off. No, going to 7 lenders does not ding your credit 7 times.
AVOID | Moving large amounts of Money or Changing Banks – Lenders want to see money “seasoned” and in your control. A general rule is 2 months. Definitely do not move money after the Lender has Verified Funds or you may screw up your deal
DO | get help,
- If your a BUYER – HELP IS FREE ! – Or it should be. Find the Right agent & the right Lender. The right person will devote and invest time in you. They will be your Trusted Advisor. Remember they don’t sell you anything, they help you reach your goals and advise and teach you along the way so you can make good lasting decisions. Decisions you will look back on with thanks to the people who helped you get there. You want to look back and be so happy you got that kind of help, you would not let your friends or family go anywhere else.
- If your a SELLER – Your Agent gets paid when they complete the job. That means everything they do for you to help you get your home ready for market and to educate you on the market and on s=mart moves, comes for free. They just want to know they are going to get paid if they devote their life and their time to your sucess
Don’t Feel Rushed – Relax. There are times to act fast, make decisions or even jump, but have faith the right home comes along in the end. The home you are meant to be in will come.
DO | Be Committed to your Goals – Be committed and you will get there. Follow the steps your advisors give you and get educated yourself.
DO | Look for a Really Good Agent – Good Agent love to see you win and take pride in helping you get there