Looking to buy a home in the near future? Listen up! These are the top five money mistakes that can jeopardize your purchase:
New Loans
Once you have secured financing, do NOT open any new lines of credit. This means no new store credit cards, car loans, or financed purchases of any kind. If your new home needs new furniture, either use cash or wait until 30 days after closing so your debt-to-income ratio does not change. After all, the furniture won’t do you any good if you can’t buy the house to put it in.
Missed Payments
Make all your standard monthly payments on time. Just before closing is not the time to be forgetful about that credit card bill you’ve had since college. Keep your credit score impeccable and unchanged in the
Sometimes buyers sabotage their own home closing by making easily avoidable mistakes. These are the top five money miss-steps that can jeopardize your purchase – and they are all within your personal control:
New Loans
Once you have secured financing, do NOT open any new lines of credit. This means no new store credit cards, car loans, or financed purchases of any kind. If your new home needs new furniture, either use cash or wait until 30 days after closing so your debt-to-income ratio does not change. After all, the furniture won’t do you any good if you can’t buy the house to put it in.
Missed Payments
Make all your standard monthly payments on time. Just before closing is not the time to be forgetful about that credit
For American families who have chosen to serve our country through military service, These loans are designed to save veterans money and allow them to buy their piece of the American Dream when they return home. But not every veteran is eligible. There are four qualifying groups:
Active Duty Service Men and Women. The qualifying person must serve at least 90 days in the military during a time when the country is at war.
Active Duty During Peace. The qualifying person must have served at least 181 days as full-time military personnel during a time when the country was at peace.
National Guard or Reserves Service. The qualifying person must have served at least six years in either the Reserves or the National Guard.
