When applying for a mortgage, everyone wants the process to be as seamless as possible as a borrower. Your biggest responsibilities, are, to be honest, and to provide all the information your lender requires in a timely fashion. Never overstate your income or how long you have been employed. Never overstate your assets and accurately report all of your debts.
Read Also: Ways a Buyer Can Lose Their Earnest Money
Buyer’s Responsibilities During the Lending Process
Don’t make any changes to the income tax returns you provide to the lender if you’re using get money for all or part of your down payment, get the donor, to write a letter to your mortgage company to make it clear.
The money was a gift and not alone don’t list any fake co-borrower’s on your loan application. Be truthful about any and all credit problems past and present. Be honest about your intention to occupy the home. Never provide any false supporting documents. It is not unusual for lenders to ask for more information. Once a loan application has been submitted, the sooner you provide the additional information, the faster your application will be processed.
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One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:
Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*
To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!
*Agardi Team and the seller have to agree on the price and the closing date.