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What Not to do After being Approved for a Mortgage.
When you have received your commitment letter, DON'T...

DON’T change jobs or quit your job. If you change your job in the middle of the process, this could delay your closing.
DON’T keep shopping for a new mortgage. This could effect your credit scores and either cost you more money or deny you for a loan.
DON’T apply for new credit after you have applied for a mortgage. Wait until after you have moved in.
DON’T pay off any collection accounts and or judgments unless told so by the lender. You need to be careful of such advice once in processing, because it could change your credit score for the worse.Understand your credit and what should be done.
DON’T co-sign on any loan for anyone until you have closed on your loan.
DON’T start with a credit counseling agency when starting the mortgage process. If your credit has to be pulled again and this is found out, some mortgage programs don’t allow it in a certain time period.
DON’T spend your money or make any changes from your savings/checking accounts or 401-k plans.  No large deposits or they will have to be explained. If taking money from your 401-k plan for the purchase of your house and depositing it into your checking account, make sure you save the paper trail for the lender, showing what you did.
DON’T disconnect or change your home or cell phone number until you have closed on your loan. Lenders need to verify your home number, even if you use your cell number instead.
 
Summary : Some of the things mentioned above should not be done when even shopping for a mortgage or while even in the mortgage process. Most of all, none of the things mentioned above should be done once you have been officially approved for a mortgage with a commitment letter.

Available Grants and Funds to First Time Home Buyers

There are federal funds and grants available to first time home buyers through the Homes and Community programs through the United States Department of Housing and Urban Development.  On their website you will find complete grant information, application forms, description of available funds, as well as many other helpful tools.   Every potential first time home buyer should investigate what they have to offer.  You can also visit their website.  The website will give you complete information on all grant programs.  First time home buyers should plan to spend the required time necessary to investigate these programs available to them.    You can visit grants.gov for a list of available grant programs.   Also visit www.GovernmentFederalGrants.com  for additional funds.

Now is a great time to purchase a home. Prices and interest rates are low and there are more choices than before.  Interesting in REOs, foreclosures, short sales or extremely motivated sellers?  We have a full inventory of these homes that is updated daily. Call for details or sign up to receive latest listings on this site.  Full list of Fannie Mae foreclosures also available.  Covering Orange, Rockland, Westchester, Putnam, Sullivan Counties and also the Bronx.

Real Estate Resource Center

Buyers - Take a look at our hot properties.  Sign-up to receive our latest listings so that you will be the first to learn about our most recent properties!  Here you can also search the MLS.  In our buyers section you will find useful information whether you are a first time buyer or need to pre-qualify for a mortgage.  Also, stay on top of the real estate market by reading our daily real estate news.

Sellers - We will get your home SOLD!  Explore our sellers section, you will find a wealth of FREE information.  At no cost or obligation we will provide you with an in-home presentation, a comparative market analysis and much much more!  To SELL your home, we make the most of the internet.  Click here to learn how.   Also, to learn more be sure to take a look at all the different FREE Reports we offer you.

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