San Francisco Bay Area highlighted in red on a...

HELLLOOOOO MY WONDERFUL BEAUTIFUL BAY AREA!!  Cant say enough how fortunate we all are to be calling our gorgeous Bay Area Home!!…Sure don’t wish to be living in those freezing cold areas hitting all the many other regions of these United States…the beat goes on regardless… many many buyers are still on the hunt for reasonably priced homes… patience and steadfastness will most certainly help…

Here are some things to avoid during the home buying process to assure your transaction goes smoothly:

 -Don’t Make an Expensive Purchase… It’s best to avoid making major purchases like furniture, cars, appliances, electronic equipment, jewelry, or vacations until after the closing. Financing furniture with a credit card could jeopardize your credit worthiness during the time it means the most. Using cash to purchase big items can also create a problem because many banks take into consideration your cash reserve when approving your mortgage.

-Don’t Get a New Job… Lenders like to see a consistent job history. Generally, changing jobs will not affect your ability to qualify for a mortgage loan-especially if you are going to be making more money. But for some people, getting a new job during the loan approval process could raise some concern and affect your application.

-Don’t Switch Banks or Move Money Around… As your lender reviews your loan package, you will be asked to provide bank statements for the last two or three months on your checking accounts, savings accounts, money market funds and other liquid assets. To eliminate potential fraud, most loans require a thorough paper trail to document the source of all funds. Changing banks or transferring money to another account could make it difficult for the lender to document your funds.

-Don’t Disregard Your Lenders Requirements… You may have been pre-approved for the loan but your work with the lender is far from over. Your lender will need copies of your bank statements, W2s and other paperwork. It is up to you to get it to him or her as soon as possible. Failure to submit certain qualifying documents could cause you to lose your loan and the financing you need to buy your home.

I’m always available assist you…928.997.2426 text/cell or isiwu@comcast.net

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