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