Five Things Not To Do When Getting Ready To Buy A Home

Dated: 02/18/2014

Views: 964

5 Don't when getting ready to buy a home

1. Don't go credit crazy. If you are getting ready to buy a new home, do not go out and get that new car too. Do not open up a line of credit to buy furniture for your new home until after you have closed. Any new credit  you accrue will add to your debt/income ratio.

2. Don't shuffle your money around.  Any large withdrawls or deposits from checking and savings will need to be explained and documented. 

3. Do not get behind on your bills. Even 30 day lates or small medical collections can affect your credit score.

4. Do not co-sign on a loan for someone else. This makes you legally responsible if this individual defaults.

5. Don't change careers. A promotion in your current field is perfect but making a major career change at this time is not helpful. 

Source: Realtor.com


To see homes in Sioux Falls please visit http://www.jeff.siouxfallsbesthomes.com/

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Jeff Merrill

I’ve been in real estate for many years and take a pro-active approach, using all sources of modern media to accomplish the goal. I devote myself to serving the needs of my clients before, during an....

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