7 Things You Should NOT Do When Applying For A Home Loan
The following is a sample of this report:
This is a list of things to steer clear of when you are seeking to obtain financing for a home. The following items may prove to be a detriment when you wish to move forward with the loan process.
- Don't buy or lease an auto! Lenders look carefully at your debt-to-income ratio. A large payment such as a car lease or purchase can greatly impact those ratios and prevent you from qualifying for a home loan.
- Don't move assets from one bank account to another! These transfers show up as new deposits and complicate the application process, as you must then disclose and document the source of funds for each new account. The lender can verify each account as it currently exists. You can consolidate your accounts later if you need to...
Also, make sure you register for our Insider Mortgage Secrets, browse our Homebuying Resources section and fill-out a free no-obligation secure online application or call our Lincoln University, Pennsylvania office at 610-345-9100 with any questions you have.
Ken and his team were organized, responsive, and always available. He made our financing process smooth from pre-approval to closing. He was able to prepare both a construction/rehab pre-approval and also conventional financing for our home purchase.
We were first time home buyers and it was very scary territory! The second I walked into Ken office Kim made me feel so comfortable! Ken was so great at explaining everything to use and him and Jackie were so thorough and professional! The whole team is so great I would recommend them to anyone!
Ken and his team we awesome to work with. You all made this process so easy. Thank you for all you did to make our dreams come true. I will recommend them to everyone I know.
Ken and his colleagues were very easy to work with to finance the purchase of our new house. Everyone was friendly and efficient and Ken was a great resource for questions about the process. He was able to get our pre-qualification letter out the same day we needed it. Once we were under contract, at his recommendation, we locked in our rate at a great time and there was no drama in the closing process. We were able to do all the paperwork online--no messing with fax machines or dropping physical papers off anywhere. We would definitely work with Ken again.
Ken and his team are a pleasure to work with! He was always happy to help and answer any questions we had and keeping in contact every step of the way.
We only had just over a month for have our loan ready. Ken assured us it would be ready. From start of the process to the closing, the process was seamless. Ken's team was efficient, knowledgable and helpful the enter time. They assisted us with everything that was needed and kept us informed the entire time. I would recommend Ken and his team to anyone needing a mortgage.
Ken and his team have been great throughout my house purchase. They are always available and help you understand every step of the process. I would highly recommend!
My husband and I just purchased a house, we are first time home buyers, and Ken was excellent to work with. He was very professional and timely in providing us with the information we needed to successfully secure our mortgage. There were no last minute surprises, everything went very smoothly. I would definitely recommend Ken.
Mr. Pitts and his team were swift to support my fiance and I during every step of our housing process. He was courteous and swift to get in touch with us whenever we had questions, and professional even during negotiation over interest rates. If you go to the table with Ken, he will make sure you have the necessary financial backing to complete your purchase, without awkward issues arising during closing.
Ken recently assisted us with the purchase of our first home. Ken and his team were extremely helpful and informative throughout the entire process. I can not think of one negative thing to be said and very grateful for the professionalism, knowledge and experience that Ken brought to the table. Ken and his team assured that all necessary steps were completed well before settlement and the morning of settlement went through without a hitch. Ken also personally attended settlement with us and answered any questions that we had. A truly great guy and professional!