The most common error that can get you your mortgage denied
The Most Common Mistakes when Buying a House
We love working with new customers who are in the process of buying a house. That's a very special moment, but customers usually make SO BIG mistakes that prevent them from purchasing a home.
Here are the most common mistakes we hope you'll never make:
1. Late or unpaid rent. No better proof than showing the lender that you have paid your rent on time. Being purchase of house, lenders want to be sure that you will be as responsible when renting as when buying. Prove you can do well and do not scare the lender without reason. Remember they are examining your rental history meticulously to feel comfortable about lending you the money.
1. Car buying. As your borrowing capacity is based on your percentages of income, try not to have debts associated with car loans, let alone affect your debt-to-income ratio just before the purchase of the property. Every year, thousands of buyers miss the opportunity to buy a house, despite being under contract, because they affect their percentages of income and borrowing capacity when buying a vehicle just before the purchase of their property. Do not make such a big mistake, especially when you're close to reaching the goal. Buy and make large investments after the purchase of your property.
Avoid these fundamental mistakes and follow these simple rules to make the deal happen without problem.