hi you recently subscribed to my mortgage education series i buy reach
0:04out in RP a few tips you should consider
0:06if applying for a mortgage is in your future I hope it helps
0:09to hear some common sense guide to what the Doosan don’t charge you go to the
0:14mortgage process
0:15do do you use your charge card to responsibly make payments on time
0:20excessive use a credit card could have a negative a factor in your credit score
0:25Inc a reason balance belt is greater than one-third or 30 percent of the
0:29available credit limit can lower your credit rating
0:31late payments will lower your credit score significantly
0:35regardless of the amount due do do save the money that you set aside for closing
0:41having enough for your down payment and closing cost is critical
0:45but so are sufficiently reserving some money for
0:48after the closing spending this money prior to closing can result in last
0:52minute shortages
0:53do do be honest about doubts or liabilities on your loan application
0:59be honest about all debts and liabilities early in the process
1:03everything will be checked and double-checked so any discrepancies will
1:07likely turn up some poor at some point and could jeopardize your ability to get
1:10a loan approval
1:12do do wait to buy furniture appliances are household items until
1:17after the closing large purchases cause
1:20car can cause the deductions in your bank account increased your credit
1:24report or additional that your credit card
1:26may cause your closing to actually be delayed
1:29or in fact maybe even denied waiting to after you close to purchase those new
1:34and exciting things for your home
1:36don’t don’t change jobs
1:40become self-employed commissioned or quit your job during the mortgage
1:45process
1:46pay stubs are needed covering a thirty day period your present job
1:50if you leave a salary job and become self-employed or commissioned
1:54you may typically have to wait two years to be approved again
1:57employment verifications are done within five days of closing
2:02don’t
2:03do not co-signed for another loan any changes to your credit report may
2:08negatively affect your ability to close in your long
2:11co signing any type a car loan student loan whatever the case may be will
2:15result in increase your credit status
2:18and increase your financial obligations don’t
2:21don’t by vehicle applying for vehicle on a result in a credit report inquiry
2:28this may decrease your credit score lower the amount of money you may
2:31qualify to borrow
2:32and potentially make them the mortgage loan more expensive for your
2:37by listening to some buddies Doosan don’t on the list
2:40you make your mortgage process run much smoother and I’ll be a better financial
2:44position
2:45when you’ve completed your purchase I hope this video helps
2:48as always please feel free to reach out to us to be will be honored to help your
2:52thank you very much and have a great day