What NOT to Do When Applying for a Loan

Tips for Buyers
Written By Kristin Koonce Burroughs, REALTOR®
What NOT to do When Applying for a Loan

When it comes to the home buying process, the first thing you’ll hear realtors ask (if they’re doing their job correctly) is whether or not you’ve been pre-qualified. Although there are folks who buy homes with cash, the majority of buyers will be taking out a mortgage loan on their home. We’re not doing this to be mean. Getting pre-qualified is just the first step in the home buying process! Buyers need to know how much house they can afford, and I will not show anyone a house until I receive a pre-qualification letter from their lender or bank. This is for everyone’s best interest!

That being said, there are a few things you should know about the pre-qualification process. I wanted to share those with you!

Here are 10 things you absolutely do NOT need to do whenever you begin applying for a loan:

  1. change jobs

  2. become self-employed

  3. quit your job

  4. buy a car, truck, or van

  5. use credit cards excessively or let your accounts fall behind

  6. spend money you have set aside for closing

  7. omit debts or liabilities from your loan application

  8. make large deposits without checking with your loan officer

  9. originate any inquiries into your credit

  10. change bank accounts

  11. co-sign a loan for anyone

  12. buy furniture or any other large purchase with cash or credit

Here’s the thing…

Part of my job as a real estate agent is to get you connected with a lender! I’ve got guys and gals I work with on a regular basis that I trust to serve my clients the way I want them to be served. So, if you’re thinking about beginning the home buying process, feel free to reach out to me and I’ll make sure you’re taken care of.

Kristin Koonce Burroughs, REALTOR®
(903)241-2608
kristinkoonce@gmail.com
BOLD Real Estate Group

Kristin Koonce Burroughs, REALTOR®

My name is Kristin Koonce Burroughs and I’m a REALTOR® in East Texas for BOLD Real Estate Group.

For starters, I’m not your average real estate agent! I jumped into this business boldly four (4) years ago because I want to make a difference. I want to do what other realtors aren’t doing.

My entire business is built around loving people well. That’s my business philosophy and that’s what I’m all about! I want others to be so delighted with my services, they can’t help but tell their friends about their experience with me. I want my clients to say, “Working with Kristin is better than trying to do this alone.”

In regards to my work ethic, I’m a morning person and I get the majority of my work done before most people’s alarms go off. I’m creative, proactive, a go-getter, self-disciplined, and self-motivated with an appetite to grow and be better than I was yesterday. I’m a problem solver who is strategic and thinks outside of the box. I have a lot of energy, talk fast, work quickly, and don’t drag my feet. I care a great deal about offering integrity, kindness, grace, and punctuality to the clients, agents, lenders, inspectors, appraisers, and title companies I interact with. I treat every client as if they were my only client because that matters to me. Folks can tell when a realtor is too busy or inattentive.

I’m not in it for the money, but I will absolutely earn my paycheck. Realtors are the most expensive part of a real estate transaction. If someone is going to trust me with the biggest financial decision they will ever make, then you can bet your bottom dollar I’m going to make sure they get their money’s worth. I’m going the extra mile. It’s who I am. I put my all into everything I do.

So, if you’re looking for a real estate agent in East Texas who can help you list property or buy property, let’s chat. You won’t regret it.

https://www.kristinkoonce.com
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