6 THINGS HOMEBUYERS SHOULD AVOID DOING ONCE THEY PRE APPROVED FOR A MORTGAGE

Dated: 10/05/2014

Views: 366

Here is one great article that really spells out what a buyer should be doing once they are pre-approved for a mortgage, found your real estate broker and even have the house you want locked up in escrow.   As a buyer you feel you can now kick back and wait for escrow to close and move right in… WRONG… If you do that there is a good chance you can delay closing or even lose the house all together.
 
 

So you think your banker is thinking about your loan only, that your house is the only one on his desk about to close or he is a friend of yours and would never not pay attention that everything is not done on time. Well guess what wrong again.   Your worst nightmare and mine is the underwriter for the loan, he is the person that blesses the loan for the bank and makes it fund or makes it turned down. That is all good but for the life of me I will never understand this but he first picks up the file with less then a week to go to closing and then starts the questions and sleepless nights…   How do you get around this???
  

                                                             
Don't stop doing what you were doing before you got loan approval before you picked your broker and before you found your house. Work to reach the goal, work on all documents being complete, keep calling your banker and Real Estate Broker and ask what stage are we in, are we on time, do we have all docs have we reviewed the loan docs, etc etc. Make your lender and broker work for there money and by asking these questions you are making them more responsible to make sure it closes on time and smoothly
If you are just starting out in the buying process, in the middle or are in escrow read this article it will help smooth out the road
6 things homebuyers should avoid doing once they are preapproved for a mortgage 
Robert Schmalz
California Broker Lic #01813025
West LA Real Estate Group / Rodeo Realty
310.505.5571
11940 San Vicente Blvd Suite #100
Los Angeles, CA 90049

www.WestLARealEstateGroup.com
 
Serving all of Santa Monica, Brentwood CA, Pacific Palisades and West Los Angeles                           
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Robert Schmalz - BRE 01813025

DBA "West Los Angeles Real Estate Group" ....

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