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QUESTION: How will I receive the fund proceeds for my reverse mortgage?
October 19, 2018
QUESTION: Are reverse mortgages complicated?
October 25, 2018

QUESTION: What can I do to ensure that my home mortgage process goes as smoothly as possible?

Answer:

There are several things that you can do to avoid delays and ensure that the process is as smooth and hassle-free as possible.

1.) AVOID JOB CHANGES:
Changing jobs before or during the loan process can create a problem qualifying you for a loan, particularly if that job is in a different line of work or at a lower rate of pay than your current job. Many loan programs require you to have a two-year work history.

2.) AVOID CREDIT SCORE PULLS:
This includes opening new credit at retail stores. Multiple credit inquiries in a short time period may have a negative impact on your credit score. Since interest rates and good credit scores are directly linked, it’s in your best interest to minimize the number of times your credit is pulled.

3.) DELAY FINANCING MAJOR PURCHASES:
The resulting payment of your purchase may impact your ability to qualify for a mortgage. A new large monthly payment can affect the amount of home you qualify for and can make it difficult to get your loan approved.

4.) AVOID BANKING CHANGES & MOVING MONEY BETWEEN YOUR ACCOUNTS:
The resulting payment of your purchase may impact your ability to qualify for a mortgage. A new large monthly payment can affect the amount of home you qualify for and can make it difficult to get your loan approved.

These are a few of the most important things consumers make sure to avoid to make your mortgage lending experience as stress-free as possible and help ensure success in the process.

For a FREE Consultation to answer any further questions you may have and to discuss a solution to your unique situation, CLICK HERE to schedule a call with one of our lending experts.