Getting Ready to Buy a Home? Lender Do's & Don'ts

There are 4 things you should avoid doing prior to submitting a loan application, or during the loan process, according to Kevin Hauber of iMortgage. Any one of these things can greatly impact your ability to qualify for a mortgage loan, so it is critical to avoid doing any of these until AFTER your loan has closed escrow.

DO NOT PAY OFF BILLS
Your loan officer will advise you if it is necessary to pay off bills to help you qualify for a loan. They will also show you the best way to pay off bills to make sure we have the evidence we need to prove that the bills have been paid.

DO NOT CHANGE JOBS
Changing jobs before or during the loan process can create a real problem in qualifying you for a loan, particularly if the job is in a different line of work or at a lower rate of pay. During the loan process, it can also create time delays as the new job will need to be verified.

DO NOT MOVE YOUR MONEY
It is best to leave your money right where it is until your loan is closed. Moving your money toa new bank or even into a new account can wreak havoc with the verification process.

DO NOT MAKE MAJOR PURCHASES
Many borrowers make the mistake of buying a new car, some furniture, or making another major purchase without realizing the impact it can have on their ability to buy a home. A large monthly payment can affect the amount of home you qualify for and, during the loan process itself, actually make it extremely difficult to get your loan approved.

If you must do any of the things listed above (even if you've just been pre-qualified for a loan), contact your loan officer. They can help you by re-qualifying you if necessary and advise you of your options. By avoiding these four things, you can look forward to a successful loan closing.

For excellent service, contact:

Kevin Hauber
iMortgage
Direct Line 805-597-8844
Mobile 805-459-8844
Email Kevin.Hauber@imortgage.com

Tim Townley is REALTOR of the Year!

The REALTOR® of the Year award is actually one of the highest awards that can be bestowed upon a REALTOR®. The award is presented annually and the member is nominated by his peers. The criteria taken into consideration are the member's involvement in leadership, civic affairs, participation in local, state and national committees with the California Association of REALTORS®, as well as the National Association of REALTORS®. Also taken into consideration is the member's spirit, attitude, dedication to their clients, and business accomplishments.

Comet Realty is honored and thrilled that this award has been given to our very own Broker/Realtor TIM TOWNLEY.

Way to go, Mr. Townley. Now the world knows what Comet Realty has known all along. You truly are REALTOR® of the year!

For outstanding service, Tim Townley can be reached at 805-440-8735, or Tim@CometRealty.com.