The home-buying experience can be both exciting and terrifying at the same time. But don’t fear … that’s where your lender comes in, acting as a guide and helping you through the process. Here’s what your lender wishes you knew from the start:
1. Your lender should be the first one you call
Not only are you going to want to call your lender first, you’re going to want him/her on speed dial. Your lender is not only there to find you a loan; alongside your Realtor, your lender is eager to help you through the home-buying process and help you with what you can afford and/or are comfortable purchasing.
2. Have a reliable team
Every position filled on a team is important. A Realtor, lender and inspector will all help you step-by-step, from shopping for a home all the way to closing. It’s important that each team member is a professional expert that knows their particular market well and one that is reliable! Knowing the team you have surrounded yourself with is reliable and will give you piece of mind in knowing you have everything you need in order to have a peaceful closing.
3. Don’t make any sudden changes without your lender
Once you’ve started the loan process, don’t make any major changes or purchases without speaking to your lender. Large purchases can delay your closing, or even result in a decline from the bank. Make sure your job is steady as well. Many lenders will ask for recent pay stubs (from the past 30 days) all the way up until closing day.
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