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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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