Qualifying for a mortgage has never been more complicated. Turner agent Brandi Weber has some pointers to keep you on the straight and narrow path toward approval in her blog, Shiny City Chronicles:
Our credit is a magical and delicate thing that can be thrown off balance very easily. Qualifying for a mortgage post “economic major meltdown circa 2008 – present” has become a bit tougher and credit scores are more important than ever when it comes to getting a loan to buy a house.
Please let me apologize in advance for my potential overuse of capital letters in this post. That said–I do want the following 10 titles to read like I am screaming at you. IT’S THAT IMPORTANT!! I WANT TO SAVE YOU FROM YOURSELF!!! 🙂
1. DON’T DO ANYTHING THAT WILL CAUSE A RED FLAG TO BE RAISED BY THE SCORING SYSTEM. This would include adding new accounts, co-signing on a loan, changing your name or address with the bureaus. The less activity on your reports during the loan process, the better.