Home Buyer’s Guide
YOU WANT TO BUY A HOME IN BUCKS COUNTY!
Review the other buyers programs below.
Call Bucks County Loan Specialist Lisa Sozio at Summit Mortgage, Lisa Phone: 215-801-2949
Once Pre-approved for mortgage email me at email@example.com and I will put you in touch with a Top Buyer's Agent that lives and works in Bucks County!
HOME BUYERS PROGRAMS
Pennsylvania Housing Finance Agency
DEPARTMENT OF VETERANS AFFAIRS
DEPARTMENT OF AGRICULTURE
Phone: (484) 795-7616
THE SEVEN DON’TS!!!
This is a list of things to steer clear of when you are seeking to obtain financing for a home. The following items may prove to be a detriment when you wish to move forward with the process.
1.) Don’t deposit CASH into your bank accounts! - Please call your loan officer BEFORE you deposit any funds!
2.) Don’t buy or lease an auto! - Lenders look carefully at your debt-to-income ratio. A large payment such as a car lease or purchase can greatly impact those ratios and prevent you from qualifying for a home loan.
3.) Don’t move assets from one bank account to another! - These transfers show up as new deposits and complicate the application process because you must disclose and document the source of funds for each new account. The lender can verify each account as it currently exists. You can consolidate your accounts later if you need to.
4.) Don’t change Jobs! A new job may involve a probation period, which must be satisfied before income from the new job can be considered for qualifying purposes.
5.) Don’t buy new furniture or major appliances for your “new home!” - If the new purchases increase the amount of debt you are responsible for on a monthly basis, there is a possibility this may disqualify you from getting the loan, or cut down on the available funds you need to meet closing costs.
6.) Don’t close credit accounts or consolidate bills! - Capacity is King. The more available credit you have, the better your credit score.
7.) Don’t pack or ship information needed for the loan application! -Important paperwork such as W-2 forms, divorce decrees, and tax returns should not be sent with your household goods. Duplicate copies take weeks to obtain, and could stall the closing date on your transaction.
Before you do any of these things, please contact your loan officer.