Pinetop White Mountain Blog

Good Afternoon Everyone,

I bet you thought I had just disappeared in a hole in the ground! No such luck folks, I've just been very busy the past couple of week.  July started out slow but it kind of put you in mind of the "In Like a Lamb" and "Out Like a Lion" thought process.  It has really picked up in the White Mountain's Real Estate Market.

Today I got a wonderful flyer from one of my Preferred Lenders and it reminded me that I hadn't touched on the Loan aspect of the Home Buying Process in a while.  Getting a loan is never easy but in today's lending climate it it tougher than ever.  Buyers really need to be careful that they don't sabotage their own efforts when they are working on a Loan to buy a house.

1)  Stay current on all your bills and make sure you make those payments ON TIME.  Even a one day late on an electric bill could hurt you.

2) Don't make any large purchases.  I know it is really tempting to go get that new washer, dryer and refrigerator that you are going to need in your new house but don't put it on a credit card.  Small usual purchases like gas or something like that is okay, just don't run up a credit card it will only hurt you.

3) Make sure you get all the documentation to your lender in a timely manner when they ask for it.  They need that documentation to underwrite the loan and if you don't have it there when they need it, it could delay the processing of your loan documents.

4) Don't change employers unless you discuss it with your Mortgage Professional to see how it might affect your chances of getting your funding.

5) Most importantly, if anything changes in your situation whether financially, in your employment, anything, make sure you notify your Mortgage Professional right away.  It may be necessary to notify the Seller of changes as well if it will have any effect on your ability to close the transaction as per the contract or will require a delay.

The most important aspect of this post is to make sure you are working with a Real Estate Professional you trust and feel confident in and that your Mortgage Professional is someone you also like and trust and feel comfortable with.  When you are buying a home it is vitally important to be working with good people with good reputations so everyone involved in the transaction feels good about communicating with the other parties.  It makes things go so much smoother and really helps avoid disappointment.

Hope you are having a wonderful week.  For most it's almost over, for me my busiest time is ahead.  Until next time...

Sandra Paulow, Associate Broker, GRI, SFR, REALTOR® (928) 242-0300