(When Under contract and Pre-Approved with a bank you don’t buy anything on credit or apply for any credit while your loan is pending.) You may be tempted to buy new furniture for your new home and put it on a credit card. Or, perhaps you realize you’ll have enough cash left for a down payment on a new car. “Once we start this process, don’t spend a dime that you don’t have, don’t put anything on credit cards, don’t apply for any credit,” Fleming warns. Otherwise, you may jeopardize the deal. Make sure you have enough cash to cover all your costs. In addition to closing costs charged by the lender and the closing agent, you’ll need to pay for a home inspection, an appraisal, a survey and city, county or state transfer taxes. Not only that, most lenders ask for at least a year’s worth of homeowners insurance and property taxes upfront.
Posted on: Mon, 10 Nov 2014 19:40:14 +0000
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