14 WHO'S WHO IN REAL ESTATE FRIDAY, MARCH 30, 2018 SANTA CRUZ SENTINEL
Y
ou've found your
dream home. Make
sure missteps don't
prevent a successful
closing.
A home purchase isn't
complete until you make it to the
closing. Until then, the transaction
can fall apart for many reasons.
Here are five tips for avoiding
mistakes that cause a home sale
to crater.
1. Be truthful on your
mortgage application.
You may think fudging your
income a little or omitting debts
when applying for a mortgage
will go unnoticed. Not true.
Lenders have become more
diligent in verifying information
on mortgage applications. If you
fib, expect to be found out and
denied the loan you need to
fund your home purchase. Plus,
intentionally lying on a mortgage
application is a crime.
2. Hold off on big purchases.
Lenders double-check
buyers' credit right before the
closing to be sure their financial
condition hasn't weakened.
If you've opened new credit
cards, significantly increased the
balance on existing cards, taken
out new loans, or depleted your
savings, your credit score may
have dropped enough to make
your lender change its mind on
funding your home loan.
by G. M. Filisko
Keep Your Home Purchase
on track
Serving Monterey, Santa Cruz, & Surrounding Counties
• DEER FENCE SPECIALISTS.
• MASTERS IN CUSTOM REDWOOD & CEDAR.
• 831.783.1500
Lic # 904200
