Pro Tips on a Tuesday

Are you looking to buy a home? Ready to apply for a mortgage? We are here to walk you through the process, every step of the way. This means even sharing the list of “DO NOTS”. Four big tips of what NOT to do when you are considering applying for a mortgage.

Do not open or accept any new credit accounts the entire time you are obtaining a loan; you must wait until the day after your closing/funding before even allowing anyone to pull your credit. This includes department store cards, car loans, all credit cards, installment loans or co-signing a loan for someone.

Don’t do ANYTHING to change your financial profile and definitely do not take on any new debt.A credit inquiry can hurt your credit score and cause a higher interest rate. (Your credit is monitored from application to closing to make sure there are no new debts).

Do not apply for the “get 10% off your purchase” offer that retail stores push; it could result in you being denied the home loan. It is also very important that you maintain your credit rating and score so always continue to pay your bills on time. If you must have your credit report pulled for any reason check with your lender first.

Don’t quit your job or make any changes in your income without speaking to your loan officer first. Even in smallest changes in your finances can change your qualification for a loan. 

Dyer Mortgage is excited to announce we have been voted “Best of Brevard” eight years in a row! Thank you to our community.

For more information or to schedule a consultation, click here.