Buyers read a lot of DONT'S when making a loan application here in Tucson and Marana, AZ, and it can be a scary process. Today's let's focus on some of the DO's and how you can help make this process easier!
DO call your mortgage professional if you have any questions, and feel free to run those questions by your REALTOR as well. We are not specialists, but sometimes we can help with simple questions.
DO provide ALL of the paperwork they need, completely. Yes, they really do need the blank back side, because without it, how would they know if it's blank! Another helpful thought is - even though some of it seems invasive - this is for YOU - so YOU can get a loan. It's business, not a personal probe/ :}
DO stay in your current home, as much as possible. If you are living with Mom and Dad - hold out a little longer. Stability shows reliability.
DO continue making your mortgage or rent payments. Your credit score will be checked at the end of the escrow process!
DO continue to use your credit cards as you normally do. That doesn't mean new, extravagent purchases - it means, if you go out for a couple of business lunches a month, and then pay end of month, you can continue to do so, etc.
DO keep working at your current job and employer. Job hunting is best saved for after the big move. Again, stability shows reliability
DO keep the same insurance company. (you can switch later) Insurance companies check your credit report. You don't want your credit report dinged with additional hits during this time.
DO expect requests for additional documentation throughout the loan process. Especially at the end, when they have "conditions to close". Some times the underwriter needs additional clarification. Remember, it's just a process!
DO let your lender know if you will be receiving gift money and do this before it is deposited into your account. This comes into play when there's been a settlement, reading of a will, etc. and just gives the lender a heads up that it's not mafia money. (smiley face)
Follow this easy checklist, and soon you'll be saying I DO to your new home! Need recommendations for great mortgage and finance professionals?? I've got that! Contact me today for trusted referrals when buying your new home in Tucson and Marana.
If I can assist you in your home buying or selling in Marana, Tucson, Oro Valley, or Vail, please don't hesitate to call me! Email at email@example.com
Cara Marcelle Mancuso, Long Realty,
Regarding the material posted in my blog postings, these are my personal opinions and not those of Long Realty Company.
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