Applying for a mortgage to purchase a home? If you answered yes, let me explain what you should avoid once you do!
Hi, I’m Tanja Odzak, Our East Bay Home brokered by eXp Realty… and I sell homes in Oakland, Berkeley, and the East Bay on both sides of the Caldecott tunnel.
It’s an exciting time when you decide to apply for a mortgage loan and begin your home search!
However, it’s IMPORTANT not to get ahead of yourself. You have to remember to AVOID THESE 6 THINGS as you go through the process.
Do not deposit large sums of money without speaking to your lender about how to document. Lenders need to source your money, and cash is hard to trace in a paper trail.
Do not make any large purchases, such as furniture or appliances. This will disqualify you from your loan due to a higher debt-to-income ratio.
Do not co-sign any loans for anyone. Although you may not be the one making the payment, it will still count against you.
Do not apply for new credit, whether it’s for a credit card or a new car purchase. These will have an impact on your FICO credit score.
Do not close any accounts. Although having fewer credit cards may make you a stronger borrower, lenders like to see the length and depth of a borrower’s credit history.
Do have good communication with your lender on any changes in your income or employment status.
And finally, connect with trusted industry professionals, like myself, to guide you through the process and help you make informed decisions to get you to your goal of homeownership. Call or text me with any questions to get you started on your homeownership journey. I’m here to help!
And if you’re thinking about selling, ask me about my tiered home selling plans where you get to pick which real estate services you want and the fee you pay… Most of the them offering my super duper digital marketing that… no one else does in our area. I’m Tanja and I sell homes. I offer simplified and transparent choices!
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?