Episode 024 1995 - 96 Season
| Foam Forms | Ironing Center | Satellite Skylight | Stair System | House Wrap | Ladder Tips | New Appliances | New Window Well | New Tubs | Aerated Concrete Blocks | Video Inventory | Bow Wrench | Kich 'N Komposter | Fiberglass Decking | Mortgage Do's and Don'ts | |
To order a Video Tape, call 1-800-TO-BUILD and ask for Episode #024.
Michael Holigan: Today we're going to go over the do's and don'ts of getting a mortgage loan. Now we've done some of these before, but we're going to do 'em again, because these are the important ones. Let's start out with returning all the information that you're lender wanted. Why? Because they need it. You make think they don't need it, but they need it. They know this. They do this every day. They know what they need to get you approved, get it into 'em.
Second, schedule enough time to complete your loan. I mean this two ways: one, when you go make loan application, it's going to take an hour to two hours. Schedule that much time. The other way I mean it is if you buy a home, start it right then. Don't wait till the last minute. They're going to need a few weeks to do the mortgage. So get in there early, get it started. Don't wait till the last week for your mortgage.
The don'ts: don't pack your records. I know you may be in a rush to move and you're packing all your boxes, don't do that with your financial records because at the last minute the mortgage company may need something that they didn't need earlier. So keep 'em out where you can get to 'em.
Fourth, don't schedule your closing on the last day of the month. Why? Because everyone else around you is. It's going to be packed. Everybody's trying to close on the last day of the month. The builders all trying to squeeze people in. The mortgage company's doing the same thing. They're not going to get all your paperwork done. Schedule ahead of time.
Last, don't go for the cheapest rate in town. Why? Because you get what you pay for. Go for a good solid mortgage company that you have a good relationship with that's charging the same rate as everyone else. Don't go for the cheapest one there.
Episode 024 1995 - 96 Season
| Foam Forms | Ironing Center | Satellite Skylight | Stair System | House Wrap | Ladder Tips | New Appliances | New Window Well | New Tubs | Aerated Concrete Blocks | Video Inventory | Bow Wrench | Kich 'N Komposter | Fiberglass Decking | Mortgage Do's and Don'ts | |
To order a Video Tape, call 1-800-TO-BUILD and ask for Episode #024.