The average 30-year fixed mortgage rate fell 1 basis point to 2.75% from a week ago with the 15-year fixed mortgage rate fell 3 basis point to 2.125% from a week ago.
It is the best time to buy a home and you just got your offer accepted! What’s next? Get a home loan right?
What are some of the mistakes to avoid while obtain financing and you’re on your way to the closing table. The mortgage loan process is a critical and will go a lot smoother if you avoid making these mistakes along the way:
- CHANGING EMPOYMENT STATUS
Don’t get fired, don’t change your career as those issues will complicate the loan application process. The loan officer will have a tough time verifying employment if these things would to happen. - TAKING OUT ADDITIONAL LOAN
Going on a spending spree by applying for new credit cards, and getting a new car loans will hamper the loan officer from determining the applicant’s credit worthiness. - FURNISHING NEW HOME ON CREDIT
Being almost at the finish line with the home buying process and with the loan application process underway, it does not mean you have the green light to furnish your potential home with huge purchases on your existing credit cards. - CONSOLIDATING DEBT / CREDIT CARDS
With interest rate at historic low, it might seem like a great time to consolidate your debt and get a lower interest rate. However, it is strongly advised to avoid doing so as that makes it tough to track and determine the applicant’s credit history. - CHANGE OF NAME
Whether it’s a momentous occasion, or a bad nightmare that you want to change your legal name – hang on and it complete the loan application process. Changing your name would exponentially complicate the loan application process.
About ApexPro Real Estate
ApexPro Real Estate Group is a full-service real estate brokerage specializing in single family and attached residential properties throughout Houston and the surrounding areas. We are a privately-held small business that brings together top agents, cutting-edge technology, and unparalleled service to help clients throughout Houston to buy and sell real estate — and enjoy themselves every step along the way. Our client reviews are exhibits our dedication to help our clients extends beyond the closing table and we would love to earn your business.