 |
|
|
| |
|
|
 |
- DO keep your present employment
Lenders require at least two years in your current employment, field or business.
- DO keep credit payments current
Late payments or no payment on your credit cards and/or consumer loans will adversely affect your loan approval or the interest rates and terms you can obtain.
- DO keep current records of all your tax returns and earnings
Lenders require at least two years tax returns and up to four recent pay stubs
- DO keep an updated list of all creditor's balances and account numbers
Lenders will require to check all outstanding debt and obligations.
- DON'T over extend your current credit lines
Lenders qualify you based on debt and income. Too much debt can affect your loan approval.
- DON'T create any new debt
Purchasing a new car or boat will increase your debt ratios and can affect your loan approval. New purchases should be delayed until after loan closing and disbursements.
- DON'T purchase lavish additions for your new home
Adding a swimming pool or expensive light fixtures, for example, will not increase the value of your home significantly.
- DON'T diminish your savings
Maximize your Fico scores by not exceeding 50% of your available credit limit.
|
|
|
|
