Mortgage Home Loan Mistakes That Could Cost You This Season
These mistakes are applicable throughout the year that we are about to list, but even more so during the high-spend holiday season. With a family of your own or even extended family, things can get costly, and we want to be sure you are aware of these tips that could save you big bucks.
1. Keep Your Credit Card Tucked Away
A smart mortgage lender will tell their client to stay clear of using their credit card when in the home buying/ closing process. If your loan is based on your FICO score, the last thing you want is for any of that to change when in the pre-approval process. You should be okay if you are spending small amounts, but if you are thinking about making those big Black Friday purchases on your card, we advise you to think twice.
2. Don’t Deplete Your Savings!
Even if you think you have the closing in the bag, don’t run off and drop your life’s savings on any big-ticket items yet. There are several costs that come along with closing so be sure to keep a good chunk of savings in your account.
3. Make a Budget & Check it Twice!
Spend some time talking with our loan officers and find out exactly what you will need to spend so that you and your family can budget for it, and nothing comes as a surprise, especially when expenses are high during this time of year. There are several fees involved when buying a house so be sure that you are fully aware of everything that is required.
If you have questions reach out to our team today! We want to help you make your holiday wish come true with your home buying process today.
(content credit: Movement Mortgage)