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34 : Things You Should Not Do When Buying a House
Manage episode 409280704 series 3565049
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SaCola Lehr and Connie Ward discuss critical financial behaviors to avoid when applying for a home loan. They outline the "10 commandments" of actions that can jeopardize loan approval, such as co-signing loans, changing bank accounts, making large deposits, and omitting debts. They warn against maxing out credit cards, making late payments, and taking on new loans, as these can harm credit scores. They caution against major purchases and career changes during the home buying process, emphasizing the need for transparent communication with loan officers. They offer resources to educate buyers and stress the importance of informed decision-making for a successful home purchase.
Mentions:
"Credit Score Concerns": "00:24:45"
"Buying a Car, Truck, or Van": "00:26:09"
"Changing Jobs or Becoming Self-Employed": "00:32:10"
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