THINKING OF BUYING A HOME? YOUR CREDIT IS IMPORTANT!
Posted by D'Arcy Amburn on March 9th, 2009
Posted by D’Arcy Amburn.
If you are thinking about buying a home, you want to make certain that your credit is in good shape. Aside from your credit score, there are a variety of items that the lenders take into account when approving a buyer to purchase. Lenders typically request copies of bank statements-I have recently been told that overdrafts on checking accounts will jeopardize ones’ ability to be approved for a loan. Your lender can answer your questions or feel free to contact me and I will be happy to provide you with names of lenders.
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If you are considering buying a home in the near future, make sure that your bank statments are clean and free of overdrafts and negative balances for 60 days current when submitting an offer. Lenders will require the most recent 60 days of bank statments as part of the asset approval! Overdrafts and negative balances are a “no-no”! Better to prepare in advance before launching into a situation that could prevent you from closing.