If you're under contract to buy a home at this time, you may not be able to go Christmas shopping just yet.
One of the clients I have under contract right now just reminded me of that fact by texting me and asking if I think he could go to Black Friday.
I told him I'd try to find out for sure and let him know. But I DO KNOW for a fact that most underwriters will deny a loan that has been pre-qualified/approved if there are changes in the home buyer's financial/credit file.
How big or small the changes can be, I don't know because it would depend on several different factors.
But I know most home buyers wouldn't have wanted to already put in the time, emotions and money that it may take to buy a house and then have your mortgage loan rejected just prior to closing.
If it were me, I'd hold off on the Christmas shopping and maybe use layaway if at all possible, but don't BLOW your home purchase!!!
Just double check with your lender and find out if it will affect your status and your debt-to-income ratio.
Thanks for reading my blog and Happy Holidays to you!!!
Priscilla Hammond
404.503.6562
search MLS listed homes for sale in Georgia with pictures and virtual tours here
One of the clients I have under contract right now just reminded me of that fact by texting me and asking if I think he could go to Black Friday.
I told him I'd try to find out for sure and let him know. But I DO KNOW for a fact that most underwriters will deny a loan that has been pre-qualified/approved if there are changes in the home buyer's financial/credit file.
How big or small the changes can be, I don't know because it would depend on several different factors.
But I know most home buyers wouldn't have wanted to already put in the time, emotions and money that it may take to buy a house and then have your mortgage loan rejected just prior to closing.
If it were me, I'd hold off on the Christmas shopping and maybe use layaway if at all possible, but don't BLOW your home purchase!!!
Just double check with your lender and find out if it will affect your status and your debt-to-income ratio.
Thanks for reading my blog and Happy Holidays to you!!!
Priscilla Hammond
404.503.6562
search MLS listed homes for sale in Georgia with pictures and virtual tours here
No comments:
Post a Comment