The 3 Deadly Sins of Home-Buying
Buying a new home is an exciting time but nothing takes the air out of your happy balloon like hearing that you will not be able to close your real estate purchase on time or maybe not at all - yikes!
Here are three faux pas of home-buying that every real estate buyer obtaining a mortgage should avoid to prevent a real estate purchase from dying:
- Purchasing large items on credit (i.e. new car, furniture, etc.) BEFORE closing - this can lower your credit score, which is usually pulled again either the day of or day before closing
- Not reporting a change to your job income, especially when you are facing a loss - this can cause a new debt-to-income ratio that puts you outside the lending limits
- Not having a home inspection AND appraisal - enter your new home with your eyes "wide-open"
Have more questions about purchasing a home or, if you are an agent do you want more tips for working with buyers? Email Info@AgentsAroundAtlanta.com. Happy buying!