Mortgage Tips

Mortgage Tip #7 – Do Not Do Big Purchases Before Closing

Mortgage &  Do Not Do Big Purchases Before Closing You should not buy furniture, appliances, or household items before closing. Large purchases causing your bank account balance to decrease. Inquiries on your credit report or additional debt on your credit card could cause your closing to be delayed or denied. Do not make any large purchases […]

mortgage tip - debts and liabilities

Mortgage Tip #6 – Don’t Omit Debts or Liabilities on Application

Mortgage & Omitting Debts or Liabilities on Application You should not omit debts or liabilities on your loan application. Be very honest and accurate about all of your debts and liabilities early in the loan process. Everything will be verified, and any omissions could delay or jeopardize your loan. Do you have questions? Contact our Eagle […]

Mortgage tip - Money Set Aside for Closing

Mortgage Tip #5 – Money Set Aside for Closing

Mortgage & Money Set Aside for Closing You should not spend money set aside for closing. Having enough for down payment and closing costs is critical, but so are reserves after closing. Spending this money prior to closing could result in a denial. Do you have questions? Contact our Eagle Home Mortgage team and we will gladly answer your […]

Mortgage tips - credit card usage

Mortgage Tip #4 – Credit Card Usage

Mortgage & Credit Card Usage You should not charge credit cards excessively or make any late payments. Excessive use of credit cards can have negative effects on your credit score. Balances greater than one-third of the available credit and late payments can lower your credit score significantly regardless of the amount due. Do you have questions? Contact […]

Mortgage tip - do not apply for a new loan

Mortgage Tip #3 – You should not buy a vehicle

Mortgage & New Auto/Vehicle Loan Do not buy a vehicle. Applying for credit to purchase a vehicle could result in inquiries showing up on your credit report. This could lower your credit score, which in turn decrease amount of money you can qualify for. Do you have questions? Contact our Eagle Home Mortgage team and we will gladly answer your […]

Mortgage tip - do not co-sign a loan

Mortgage Tip #2 – Do Not Co-Sign a Loan

Mortgage & Co-Signing a Loan Do not co-sign a loan for anyone, while your loan is being processed. Changes to your credit report may negatively affect the closing of your loan. Co-signing any type of loan may result in inquiries and additional financial obligation that may hurt your credit score. Do you have questions? Contact […]

Mortgage tip - Employment

Mortgage Tip #1 – Do Not Change Jobs

Mortgage & Employment Don’t change jobs, become self-employed, commissioned, or quit your job. You need the pay stubs from present job covering a 30-day period. If you leave a salary job to become a self-employed commission, you will typically have to wait 2 years to have an acceptable employment history. Employment verifications happen within 5 days […]