- Don’t switch jobs. You want to show lenders that you have job stability.
- Don’t change banks. You want to show stability in your banking history.
- Don’t buy anything that you will have to finance. (Ex: car, furniture) You don’t want to increase you debt to income ratio.
- Don’t be late on credit card payments or charge excessively. Show lenders that you can manage your money.
- Don’t make large payments into your bank account. Lenders like to see your down payment amount sitting in your account for at least two months.
- The obvious- don’t lie or leave anything out on your loan application- its fraud.
- Don’t co-sign on a loan for anyone. Even if you are not making the payments, it raises your debt to income ratio.
- Don’t have any inquiries made on your credit. This makes your credit look risky to a lender.
- Don’t forget to set extra money aside to cover closing costs.
Terez Harris NOLA Real Estate Group
(504)297-2619
Keller Williams Realty New Orleans 8601 Leake Ave. New
Orleans, LA 70118 504-862-0100
Each office independently owned and operated. All brokers
licensed in the state of Louisiana.
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