MobileGreenville

Contact Us @ 864-881-1258

  • Search
    • Best Buy
    • City
      • Greenville
        • Search by Neighborhood
        • Search By Price Range
        • Search Foreclosures
      • Simpsonville
        • Search By Neigborhood
        • Search By Price Range
        • Search Foreclosures
      • Greer
        • Search By Neigborhood
        • Search By Price Range
        • Search Foreclosures
      • Fountain Inn
        • Search By Neighborhood
        • Search By Price Range
        • Search Foreclosures
      • Mauldin
        • Search By Neighborhood
        • Search By Price Range
        • Search Foreclosures
      • Taylors
        • Search By Neigborhood
        • Search By Price Range
        • Search Foreclosures
      • Travelers Rest
        • Search By Neigborhood
        • Search By Price Range
        • Search Foreclosures
      • Easley
        • Search By Neigborhood
        • Search By Price Range
        • Search Foreclosures
      • Liberty
        • Search By Price Range
        • Search Foreclosures
    • Schools
      • Elementary Schools
      • Middle Schools
      • High Schools
  • Buy
  • Sell
  • Finance
  • Blog
  • Careers

What Home Buyers Should Know During the Mortgage Process

You’ve gotten your preliminary loan preapproval letter, gone out with your Buyer Agent to visit several properties, and finally found the home you want to purchase. Now what?

Once your offer has been approved and both sides have signed a purchase contract, it is time to begin the process to secure your mortgage. You will need to meet with your mortgage loan officer within the time frame noted on your purchase contract to formally apply for your loan. During this process, you will need to provide your loan officer all the information he/she needs to verify your personal finances, your capacity to repay the loan, and any liabilities you may have.

Mortgage approvals take time – normally 45 days or even more, depending on many factors. Your loan approval will be based on the information you provided to your lender during your initial application, so you should try to keep your financial life as stable as possible during the process – any changes to that information could very easily affect your loan approval. Keep these points in mind while you’re waiting for mortgage to be approved:

  1. Maintain your current employment – do not quit and get a new job at a new company.
  2. Stay current on all your existing accounts.
  3. Keep your funds in stable in the same accounts; don’t transfer large sums of money between accounts.
  4. Do not apply for new credit cards, and keep all existing credit cards open.
  5. Do not buy a new car or do a trade-in.
  6. Do not max out your existing credit cards.
  7. Do not make any large purchases.
  8. Do not make undocumented deposits into your bank account.
  9. Don’t make any changes without first consulting with your lender, thinking it might help you get a better credit score.

This list is just the most common reasons for why you might be denied a mortgage after getting preapproved. There are many other reasons that could undermine your success in getting a loan. Consult with your lender to help you identify them.

Remember, the success of getting a mortgage loan depends on your good credit reputation. Once you have begun the process, you should be careful to keep things as stable and unchanging as possible, or you will risk being denied for a loan.

 

Need Help with Financing?

Get a FREE Loan Pre-qualification. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is FREE. 

GET IT HERE!

 

 

 

Read more: 10 Things Buyers Shouldn’t Overlook When Viewing a House

Looking to buy? Are you a first time home buyer? We can help! The J Michael Manley Team go above and beyond to help you find the perfect home, from  searching the right property that meets your real estate needs until you finally sign the deal. We will walk you through the process and make sure that you get the best deal possible. Are you ready to find the right home?

Contact us or Call us at 864-881-1258

(Visited 178 times, 1 visits today)
Facebook0
Google+0
LinkedIn0
Pinterest0
Twitter0

Comments

Filed Under: Home Buying, Home Buying Tips Tagged With: buyer tips during the mortgage process, how to get approved for a mortgage, mortgage process, What Home Buyers Should Know During the Mortgage Process, what to do to get mortgage approval

Search our site

CONTACT US

J Michael Manley Rebate Program. Serving Pays

Popular Posts

  • Where To Go Fishing? See 15 Best Fishing Lakes in… Fishing is great outdoor pastime for those who love to…
  • Where To Find Pokémon Go Gyms and Pokéstops in… Where to Find Pokéstops and Gyms in Greenville SC? Barely…
  • 6 Open-air Places to Watch Movies in the Upstate Great way to spend a night this summer: Free Outdoor…
  • Homes for Sale Near Beck Academy Middle School,…   Beck Academy Middle School Information and Homes for Sale…
  • Fed Chair Cautions Interest Rates Will Rise: How… Federal Reserve Chairman Jerome Powell cautioned that interest rates are…
  • Homes for Sale Near Oakview Elementary School,… Oakview Elementary School Information and Homes for Sale Near Oakview Elementary in Simpsonville,…
  • Greenville County Council Approves New Affordable… New Affordable Housing Policy The Greenville County Council passed a…
  • Homes for Sale Near Eastside High School, Taylors SC   Eastside High School Information and Homes for Sale Near Eastside High…
  • 8 Disclosures South Carolina Home Sellers Must Make   Not disclosing everything about a home can be very…
  • Buying A Home In Greenville Is More Affordable Than Renting Buying a home is more affordable than renting and can…

Buying A Home? Read These Articles To Get More Information About Home Buying

Interested in Buying a Foreclosure? These Tips Will Help!

Home Buying 101: Buying Homeowners Insurance

Significant Tax Benefits of Homeownership

Advantages of Buying a New Home Over a Resale

6 Mortgage Mistakes to Avoid

Home Buying 101: Getting a Buyer’s Agent

How to Simplify the Moving Process for the Senior in Your Life

5 Blunders First-time Home Buyers Should Avoid

Home Buying 101: House Hunting

Tips For Buying a Home in a Seller’s Market

These Home Selling Tips Will Give You Lots of Insights About Home Selling

Challenges of FSBO

Tips For a More Organized Moving

A Stress Free Decluttering Guide to Busy Parents Selling their Home

FSBO – Going for For Sale By Owner Route

Home Selling 101 for First Time Sellers

Paint Colors to Consider if You Are Selling Your Home

Why It’s a Good Time To Sell Your Home During the Holidays

6 Smells That Turn Off Home Buyers

Useful Tips in Staging a Home for a Resale

Home Selling 101: Costs of Selling a House

Tours in Greenville

Real Estate Tools

   
Get Started With Mortgage Pre-Approval
 pre-approved
Search Home Using Our Mobile App
 mobile app GGAH page

What Our Clients Are Saying…

"My husband and I met with Michael in mid-December, our house went on the market January 16th and was under contract January 19th. Michael and his team are amazing at what they do and did everything could to help us. We were out of our old house and in to the new one within a month of our house going under contract. I would highly recommend using the J. Michael Manley team for buying and/or selling. They made the hassle or buying and selling so easy and everything was very smooth."


Brittany and Brandon Kessler
Seller

VIEW ALL

Meet The Team

J Michael Manley TeamJ Michael Manley Team

Keller Williams Realty

403 Wood Lake Dr Suite 100

Greenville, SC 29607  

 

Whether it is buying or selling a home, there is no bigger decision than choosing the sales associate who will represent you during the transaction. Beyond being trustworthy and honest, you need someone who has the experience and drive to help you in the real estate selling or buying process. The J Michael Manley Team have represented countless clients to satisfactory resolutions, either in finding the perfect homestead or selling their home to a new family.


kw-mobile-app-youtube-keller-williams kw-mobile-app-twitter-keller-williams kw-mobile-app-linkedin-keller-williams kw-mobile-app-google-keller-williams kw-mobile-app-facebook-keller-williams    

Copyright © 2022 All Rights Reserved. Search Site Map | Site Map | DMCA | Greenville SC Real Estate | Greater Greenville

Turn Key Theme

realtor and fair housing   Greenville SC Chamber Investor