When buying or selling a home, I can be a powerful asset for you.
The main focus of my services is to help and educate homebuyers and sellers so they understand from the beginning the entire process of buying and owning a home.
All agents are not the same. As in every profession there are those that excel and are committed to excellence, and those that are not. I have what it takes to make a difference on all your real estate needs.
Now, I would like to talk about Seven Pitfalls to Stay Away From When Purchasing a Home
For the majority of us, a mortgage loan is necessary. Obtaining a mortgage can be challenging. There are many mistakes and pitfalls people make before buying a home.
Once the lender has started the procedure for approving your loan. Your application is what the mortgage company relies on to approve or deny a mortgage. If you take any of the following actions before the closing date, it may result in a significant delay or perhaps be denied the ability to obtain a mortgage altogether.
1: Get a car:
A car is a significant expenditure that might raise your debt to income ratio. Lenders use this ratio to estimate how much of a mortgage you can afford. Eventually, buying a car may make it more difficult for you to afford a house. Wait until you move in to buy that shiny convertible.
2: Money transfer between accounts
The lender will require statements from all of your accounts with liquid assets in order to determine whether you qualify for a loan. If you transfer money between them, especially in significant sums, they will notice withdrawals and deposits in several accounts. In order to avoid any red flags, it is recommended to leave assets, such as money for the down payment and closing costs, where they are throughout this procedure.
3: Changing banks
This also includes money transfers between accounts. You and your lender will have to complete more paperwork as a result. Keep your current bank account open while you wait for the mortgage to be approved. Both you and the lender will benefit mutually at the end.
4: Switch Jobs
Your mortgage approval could be impacted by changing employment. Before approving you for a loan, lenders will often want at least two years of employment. Wait till you have funding for your home purchase before starting your own business.
5: Apply for a credit card or cancel one
A query into your credit score won’t have an impact on your credit if you have good credit. However, if you want to buy a house, the lender might be concerned about your financial stability.
6: Purchase the furniture before getting the house!
When purchasing a home, furniture is a must, but a significant rise in your credit limit could raise suspicions. It’s best to hold off on purchasing a new sofa set until the home purchase is finalized.
Avoid making any purchases that can give the impression that your finances are out of order.
7: Never give up
Since buying a home is such a significant investment, the process will undoubtedly be both thrilling and stressful. You may be tempted to give up and leave because of all the stress you are under. You should be aware, though, that there is light at the end of the tunnel. You will succeed as long as you cooperate with your lender and follow the procedures with your real estate agent to finally close on your new home.
Always consult with your real estate agent about your home inspection results and the options you have inside the sales contract that you’ve signed.
Please don’t hesitate to call and ask me any questions you might have. This process is all about you and your needs. Real Estate is a big investment and I understand that. One thing you will get with us is a personal relationship, In the end, that goes a long way.
To get started contact Debbie Davignon at 508-989-0972
or email DavignonSouthCoastHomes@gmail.com