What not to do when you are planning to buy a home!!!

So you want to bu a new home.  You have made the decision and you and your family really want to buy a new home.  We talk so much about what you should do, save money, watch your spending, get your credit in line, get pre-approved etc...

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But what should you NOT do?

*Make any large purchases.  Do not by a new car, toys like atv's.  Anything that will hit your credit and increase your DTI

*Charge up your credit cards.  Do not go out and by new furniture, charge a trip.  Let things ly.

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*Make large deposits into your accounts.  Any large deposits will need to be sourced.  Meaning you will have to prove where they came from.

* Have anyone give you large cash deposits.

*Make Late payments

*Mix business and personal account funds

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*Pay off or allow any collections.  Pay the collections through escrow.

* Quit, Retire or Change jobs.

* Get divorced

These are just a few things that I have seen that effect loan files in the past.



 Keith Woeste

 

Home Loan Consultant

 

American Financial Network

 

330 Tres Pinos Rd.,Ste F3

 

Hollister, CA 95023

 

"Making Clients Family for Life"

 

 

 

PH.831-801-8667

 

FX. 831-665-5260

 

NMLS#292588

 

To complete and secure online application go to http://www.hollistermortgage.com

 

http://www.onlinemortgage-lenders.com/

 

http://www.repairmy-fico.com/

 

http://www.hollistermortgage.com/

 

http://www.mortgages4california.com/
 

20 Whats of Home Mortgage

Here is 15, 16 and 17 of the Whats of Home Mortgage


15. What is a Discount point? - It is an amount paid to the lender, bank or investor to lower your interest rate.

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16. What is an Origination point? – It is an amount paid to the person that is doing the loan for you, the “mortgage originator”.

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17. What is a point? - A point is 1% of you loan amount. So if your loan amount is $200,000, a point is $2000. A loan amount of $500,000 a point is $5000.


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For more information call me any time..

Keith Woeste


Home Loan Consultant

American Financial Network

330 Tres Pinos Rd.,Ste F3

Hollister, CA 95023

"Making Clients Family for Life"



PH.831-801-8667

FX. 831-665-5260

NMLS#292588