10 Mistakes You Can't Afford to Make Before Closing on Your Home
LARGE-PURCHASE ITEMS | Do not buy things like cars, boats, or other expensive items.Big ticket expenses mean nothing but added debt to your lender. This will delay the process of buying a home no matter if the price tag is well within your means. JOB CHANGE | Do not quit or switch jobs.Changing jobs even if for good reason could potentially cause your lender to question your financial stability. CREDIT CHANGE | Do not open or close credit lines.Taking on new debt, no matter how small, can throw off your debt-to-income ratio which could potentially disqualify you from mortgage lending. Wait to open new credit cards and extend credit lines until the home buying process is over. BANKING | Do not change bank accounts.Wait until your home is closed to withdraw, deposit, or transfer large amounts of money. Generally, if you move more than $500 at a time it will impact your loan approval because your loan approval was based on your finances at the time of application, and now they have changed. GHOSTING | Do not ghost your loan officer. Be sure to answer all questions and communication.Ghosting will delay the process, waste valuable time, and potentially cause important information to be missed. DELINQUENCIES | Do not pay bills late.A missed payment even months before you apply could lower your credit score and jeopardize your chances of securing a loan. You especially don’t want to miss current mortgage payments, this will make you ineligible for a loan from most lenders for at least a year. CREDIT CHECKS | Do not let anyone other than your loan officer run a credit check on you.Credit inquiries can lower your credit score as much as 10 points each time it’s checked. LOANS | Do not sign or cosign a loan.Having multiple outstanding loan payments or opening additional loans while in the process of purchasing your home is not recommended. LARGE DEPOSITS | Do not make any large deposits other than your paycheck.Suspiciously large deposits may raise questions from your lender and they may have to adjust your mortgage calculations accordingly. PAYDAY | Do not take an advance on your salary.All of your finances have been locked in at the time of approval. Substantial additional income post-approval could reset the process.
TOP 10 Reasons to List Your Home During the Holidays
Spring is generally the most popular time of year to sell a house, with swarms of buyers looking to move into a new place before the school year begins. So, you may be surprised that there are actually advantages to selling your home in the winter – here’s our top 10 reasons to list your home during the holidays! People who look for a home during the holidays are more serious buyers. Serious buyers have fewer homes to choose from during this time of year, so your home has less competition. Less competition means more money for you. Buyers usually have more time to look for a home during the holidays than they do during a regular work week. Interest rates are hovering at the same average rate they’ve been for the past 22 years, meaning more buyers will be able to afford your home now than if/when rates rise. You can sell now [for more money], and delay closing until early next year. January is traditionally the month for employees to begin new jobs. Transfers cannot wait until spring to buy, so list your home now to capture that market. Selling now allows you the opportunity to be a non-contingent buyer during the spring when more homes are on the market for less money. This will allow you to sell high and buy low. The supply of listings will dramatically increase in January, so there will be less demand for your home. [Less demand = less money for you]. Some people must buy before the end of the year for tax reasons, making them more motivated to make a decision.
What the Type of Treat You Give Out on Halloween Says About You
From raisins to full-size candy bars, the type of treat you give out on Halloween says more about your personality than you may think. Fruit, Raisins, and Granola BarsIf you hand out fruit, mini boxes of raisins, or granola bars- you value overall well-being more than simple pleasures. You think in long terms, rather than short. If you’re a “healthy” house, you’re probably a really caring and logical person. You’re practical and safe. While these qualities may serve you well in everyday life- giving out these treats on Halloween may put you on the “houses to skip next year” list. Strawberry + Caramel Hard CandiesThese are the candies grandparents always have stocked, so if you’re passing these out, you are definitely over the hill. Younger generations don’t even know where to purchase those strawberries. However, they are low-key tasty, and you can never go wrong with caramels. You have a, “if it isn’t broken, don’t fix it” attitude and prefer consistency over adventure and change. You care more about nostalgia and tradition, than being trendy. You’re old fashioned- just like these candies. Assorted Gummies (Dots, Burgers, Vampire Teeth, Laffy Taffy)You made the effort to get candy, but you waited until the last minute and got what was left. The stuff nobody wants. If these candies are what you’re passing out, you’re probably not a Halloween person, a hard-worker, and/or just have a busy schedule. You didn’t mean to forget to plan ahead, but you’ve got a lot going on right now. Odds are, you are young and don’t have children of your own, and more than likely live alone. We’re thinking college kids, newly graduated, 9-5er’s and people in their lower 20’s are passing these out. Maybe you don’t live in a neighborhood that gets many trick-or-treaters, or you don’t know if you’ll even be home. However, making the effort to have some candy stocked just in case still means you care enough to try- which is what really matters. Chocolate Eyeballs/Pumpkins + Halloween PretzelsYou love holidays, especially Halloween. You get excited to do seasonal activities and feel joy when doing them. Of course you have to choose a candy that is Halloween themed, and only available for purchase this time of year. Unfortunately, you might be a tad oblivious to the actual wants of children when it comes to candy. You care more about vanity than substance. You want the candy to look cute, rather than taste good. Those off-brand chocolates aren’t usually a crowd-pleaser. Children enjoy chocolate and pretzels any time of the year, so these treats are less than exciting for them. But for you, Halloween isn’t about candy- it’s about the festive details, and these ones do just the trick. Candy Corn + Tootsie RollsYou love stirring up drama. These candies are notorious for either being loved or hated, so if you’re handing them out, you probably live for the dramatic reactions of the children after each, “trick-or-treat!” You love entertainment, pranks, excitement, and laughing. Mini Chocolates (Reese’s Cups, M&M’s, 3 Musketeers, Twix, Hershey’s, Snickers), Skittles, Starbursts, Sour Patch Kids, + Dubble Bubble GumYou know what’s up and what the kids want. These happen to be the most popular candies to receive on Halloween. These candies say you care about Halloween and the happiness of children, but you don’t feel the need to be the best or most unique house on their trick-or-treat path. You don’t care about ego, and don’t feel the need to impress children with luxurious, expensive, or unique candies. You know these candies will do the trick, without breaking the bank. You understand the simplicity of children and probably will make or already are a great parent! Blow Pops + Fun DipYou love to stand-out, and thrive on being different. Not only do you want the children to remember your house for receiving a great candy, but you also want to make sure they get a candy they probably don’t already have. You’re generous, thoughtful, and creative. Full-size Candy BarsYou’re rich. This might not actually be true, but to the kids- yep, you’re rich. If you pass out full-size candy bars, you’re likely someone who loves to be loved. You like being the center of attention, and want to be the focus of next-day conversations. You thrive on putting smiles on others faces, and love giving. You’re competitive and want to be the best of the best. So congratulations, because you surely will be everyone’s favorite house with such a top-tier candy choice.
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