Our Company and our Team of Professional DFW Real Estate Agents specialize in DFW Real Estate, Residential Real Estate, First Time Home Buyers, Condos, Luxury Homes, New Homes, Builders, Commercial, Industrial, Offices, Lots/Land, Multifamily and Investment properties. VIP Realty Platinum's Agents are among the best in the industry. They are results-focused, quality-driven professionals serving the real estate needs in the Plano Real Estate and Dallas Real Estate market.
While in the process of purchasing a Plano Home for Sale make sure you do not make any major purchases of any kind. I have had clients get a home under contract and the next thing I know they are pulling up to the home for their home inspection in a brand new car! What could they have possibly been thinking? You may be enticed to purchase new appliance and furniture for your new home prior to closing. You may also want to take a vacation to get a break from all this home buying stuff. Don’t do it! If you do you will be severely damage your chances of obtaining the mortgage you will need to by the home.
Don’t move your money around. When your lender reviews your loan package prior to closing for loan approval they will be seriously concerned if the money you are going to use, the source of your funds, for your down payment and closing costs is not in the same place or in the same amount as it was when you initially applied for the loan. More than likely, you will be asked to provide statements for the last two or three months on all of your liquid assets. This includes savings accounts, money market funds, CD’s, stock statements, mutual funds, 401k and retirement accounts.
The loan underwriter, the person that give final approval on your loan, will most likely require a complete paper trail of all your larger withdrawals and deposits. You may be required to produce cancelled checks, deposit receipts, statement and other documents. You may find yourself becoming frustrated with your lender but they are only doing their job correctly per all the mortgage rules and regulations. This is necessary to ensure quality control and eliminate potential fraud. It is a requirement for obtaining financing to document the source of all your funds and assets. Moving your money around, even if to consolidate your funds to make it closing easier, could make it more difficult for the lender to verify properly. Don’t change banks, move funds or make purchases without first speaking with your loan officer.
If you want to buy Plano realty and you are using a professional Realtor they will be able to give you additional advice to keep you on track during your home buying process. If you are buying a Plano for sale by owner property then the onus is on you to stay out of trouble. If you are just beginning searching for a home get you Realtor to search Plano Listings to find sellers who are offering to pay some or all of your closing cost. This can reduces the amount of money you will need to bring to closing.
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