Colorado Springs Vintage Homes Blog
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Financial Do’s and Don’ts
Credit Do’s and Don’ts
You have finally decided to buy a Home in Colorado Springs. You have a lender and are now pre-approved.
Below you will find a reminders of DO’s and DON”Ts to do before you buy your Colorado Springs dream house.
For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com
Related Articles:
- Pre-Qualification or Pre-Approval, which do you need to buy a home?
- Credit score explanation
- 26 criteria used to determine interest rates
DO’s
- DO continue making your mortgage or rent payments
- DO stay current on all your existing credit card accounts
- DO keep working at your current employer
- DO continue living at your current residence
- DO continue to use your credit as normal
DON’Ts
- DON’T make a major purchase (car, boat, fur, jewelry, etc.)
- DON’T apply for a new credit card
- DON’T transfer any balances from one credit card account to another
- DON’T pay charges offs without discussing it with your lender
- DON’T pay off collections without discussing it with your lender
- DON’T buy any furniture on credit
- DON’T close any credit card accounts
- DON’T change bank accounts
- DON’T max out or over charge on your credit card accounts
- DON’T consolidate all your debit into 1 or 2 credit cards
- DON’T take out a new loan
- DON’T finance an elective medical procedure
- DON’T pay off any loans or credit cards without discussing it with your lender
5 things you need to know about FHA Mortgages
Colorado Springs Vintage Homes is happy to feature a great article
on FHA Loans by
Bryan Yaninek with Castle & Cooke Mortgage, LLC
If you enjoyed reading this article, why not Subscribe to be notified of the next one?
Here are the 5 things you need to know about the new changes for FHA loans:
1. One single down payment requirement of 3.5% for all purchases
2. Closing costs/prepaids are Read the rest of this entry »
