Securing your Home Loan During a Close
If you are a home buyer wanting to secure the new place of your fantasies, there are a few things you need to know about your home loan. The first and most important fact are that when you buy a home, you are lining up several different forces that all want different things.
The Realtor – The realtor wants to ensure the sale goes smoothly in your favor.
The Bank – The bank wants to ensure they are lending to someone who is responsible.
The Seller – The seller wants to ensure things go their way or in any direction at all depending on the market.
Most important of the three is the Bank. While the realtor and the seller want to move forwards with their lives, the bank is making an estimation based on where you are right this second. If you want to ensure your home loan is secured before closing there are a few warning shots you need to avoid to ensure the sale goes through.
How to secure that home loan
Once you’re closing, it’s a very delicate week to even months of delegation. While all of these forces are pulling, you have to stay the same. You need to convey these three traits:
Financially Neutral – Your finances have to be stable. Don’t go off and wrack up a bunch of credit card debt or pull out a loan for something else. If your money is divided in too many ways, the bank will not believe you are capable of paying for ALL of them.
Job Security – If you are thinking about finding a new job, don’t let anyone on the planet know that. Because if your job security is in question, it can immediately crumple the existing and negotiating home loan for a new one or worse, no loan at all.
Frugality – You need to show that you are comfortable in your station. That means no crazy buys or extravagant spending. You want to show the bank that you are ready to save and ready to pay them and no one else.
Closing with Kadoch
Multiple agents and realtors trust us with negotiating their final closing of their homes. The reason behind this is that we care about the details and we don’t mess around with what’s required of you. If you want our fast services, you need to prove that you can be fast yourselves. If you think you’re ready to close a real estate deal, make sure to give us a call today at (954) 713-9423