When purchasing a home the most often cause for delay in closing on time has to do with the very last piece of the puzzle and that is getting your loan docs in order and through underwriting. Here are a few things to do to ensure your home closes on time!
1. Do respond quickly to your lender’s requests for information to avoid delays in the process.
When purchasing a home the most often cause for delay in closing on time has to do with the very last piece of the puzzle and that is getting your loan docs in order and through underwriting. Here are a few things to NOT do to ensure your home closes on time!
1. Don’t deposit cash to your bank account – cash deposits will not be considered available funds.
The FICO score generally ranges from 300 to 850, and a higher score indicates a lower credit risk. FICO scores are calculated from many sources of information in your credit report, which is based on the importance of the following five categories for the general population:
Payment History – 35% – Were payments made on time?
by Teryn Bonime www.teryndowntheroad.com
Question: Where do I go to get a loan for the manufactured home I want to buy?
Mobile homes and manufactured homes take a higher interest rate because typically the land is not part of the sale-usually the land is leased. For this reason also the value of these types of homes does not appreciate as “stick” houses do.