Kansas City Real Estate Network

The Ten CommandmentsWhen Applying for an Overland Park, Kansas Mortgage Loan ( 10 of 10)     #10) Thou shalt NOT change bank statements.    Because the loan process requires a 2 month history of reserve funds, opening new financial accounts near a closing date may void this history.  New bank accounts ...

The Ten CommandmentsWhen Applying for an Overland Park, KS. Mortgage Loan ( 5 of 10)     #5)  Thou shalt NOT spend money you have set aside for closing.    Most conventional loans require 2 months of reserve money to be verified in your available financial accounts.  Once it has been verified for ...

The Ten CommandmentsWhen Applying for an Overland Park, Kansas Mortgage Loan ( 4 of 10)     #4)  Thou shalt Not use charge cards excessively or make late payments on ANY of your accounts.      Excessive use of credit cards can have 2 negative affects on your credit rating.  One, inquires ...

The Ten CommandmentsWhen Applying for an Overland Park, Kansas Mortgage Loan ( 3 of 10)     #3)  Thou shalt NOT buy a Vehicle (or you maybe living in it! )   Applying for credit to purchase a vehicle will be recorded as an inquiry into your credit by credit bureaus.  This may decrease your credit ...

The Ten CommandmentsWhen Applying for an Overland Park, KS. Mortgage Loan (2 of 10)     #2)  Thou shalt NOT co-sign a loan for anyone.    During the loan process, any changes to your credit report or status could negatively affect your ability to close your loan on time or at all.  Co-signing ...