Things Not To Miss
I am sure you all can relate to having planned a business trip, vacation or simply just trying to head off to school or work only to find you missed or left something behind. No matter how minor an item may have seemed at the time, later on it turned out to be a devastating thing to have forgotten or missed when getting ready.
I have seen very well-established business people, attorneys, doctors, engineers and others, overthink or feel something so little is so insignificant that it doesn’t apply to them. I have seen the most disciplined and the not so disciplined miss or forget the do’s and don’ts when going through the mortgage loan process.
All the same rules apply to everyone, no matter what your background or financial position is. Everyone is treated fairly and equally, whether you’re a financially strong or a millennium thinking you’re just entitled to it.
Here are some of the basics:
Do be accountable and responsive to your lenders request
Do pay the IRS and your student loans
Do pay your bills on time
Do not put cash in to your accounts, unless you are a very well documented cash business
Do not open or close any credit lines
Do not bounce checks
Do not spend money, rather save money
Do not go out and spend $400 a month on fast food, make your own coffee and bag a lunch
Do not move money throughout all your accounts without first asking
Do not hide that you own other properties
Do not lie on your application
Do not withhold information about alimony or child support
Do not lie about being married or not, no you cannot buy a house for your girlfriend without your wife knowing
Do not buy your new furniture before you buy the house
Do not buy a new car, put band aids on the old one instead
Do not schedule days off from work without a clear to close on your mortgage loan
Do not call your landlord bad names, I need them to fill out your verification of rent
Do not be afraid to ask questions.
Asking questions could save you thousands of dollars. Remember attaining home ownership is something you work for and earn, it’s not an entitlement.
Think about and plan everything you do and we will see you at a happy closing table