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Brought to you by Pat Olson - Guild Mortgage Scappoose - MORTGAGE FINANCING INSIDER -

GUILD MORTGAGE - Pat OlsonBuying a house can be a stressful, emotional affair—but closing your home loan doesn't have to be. Avoid these common pitfalls to simplify the process.

Don't change jobs or become self-employed. When the lender calculates your average income, proof of a consistent income history will make that process much quicker. Changing jobs during the process—or, worse, changing to a job where the income fluctuates significantly—would negatively impact that process.

Don't spend the money you have saved for your down payment. Life happens. When you need a quick car repair, it may be tempting to reach for the large chunk of change in your savings account. Don't!

Don't make any large deposits other than your paycheck. Your underwriter will have to check to make sure that you didn't open another credit account or take out a cash advance to put the proceeds into your own account.

Don't co-sign for anyone. As much as you may love your mother or nephew, loans add up. If you have too much credit in your name, your own loan application may be denied.

Don't count your chickens before they're hatched. While waiting an additional few days might be more than you can stand, your lender must verify credit and employment prior to closing. Make sure you don't incur any more debt in that time frame that could affect your ability to close the loan.

Guild Mortgage Scappoose

51669 Columbia River Hwy, Scappoose, OR 97056

(503) 543-9797

branches.guildmortgage.com/or/scappoose/51669-columbia-river-hwy-.html

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