To All:
The below comments just came to me via email from one of my lenders. She says the standards are increasing for those trying to get financing for home purchases and had a few pointers she wanted us to pass on to people so the word gets out.
Rich Kemper
REALTOR, Keller Williams Realty
CDPE - Short Sale Specialist
PCS Military Relocation Specialist
Cell: 813.777.5332
Fax: 813.684.8400
Email: getrichquick2@aol.com
I don’t work from 9 to 5. I work from start to close!
Due to increased credit qualifying standards imposed on all lenders we would like to advise you of a few things you can do to help your loan close on time. Conventional loans now require us to update your credit report within a few days of closing and any new inquiries will require us to verify if you have acquired new debt. Credit inquiries will delay the closing of your loan and could impact your loan approval.
DO:
- Continue to pay your bills on time
- Continue to pay your existing mortgage (refinance)
- Contact me before acquiring any new debt
- Respond to our request for documents quickly
DON’T:
- Let anyone inquire or pull your credit
- Apply for any new loans, auto loans, mortgages, or credit cards
- Make any major purchase using credit
- Buy anything on a 12/24 month no interest, no payment promotion
- Change jobs or change your pay structure without talking to us first
- Pay off any collections or close any accounts unless you talk to us first
- Bounce any checks
- Make any large deposits to your accounts until you talk to us so we can source the funds
If you have any questions, please contact your Loan Officer.
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