This means no shopping on credit for appliances, furniture or anything else. If you hope to keep your purchase alive, don't do anything - from application to closing - that might change your financial picture and sabotage your final approval. This is the point where many borrowers run afoul. Then, just before funding the loan, the underwriter will perform what is known as a "soft pull" of your credit information to see if anything has changed. He or she will assess your ability to repay the loan, your credit, and the collateral used to secure the mortgage - in this case the collateral is the home. The underwriter is the person who ultimately determines whether or not you are an acceptable credit risk. He or she will then put together a package of all pertinent information to be sent to the underwriter. The file is then sent to the processor who will review all of your information as well as the appraisal. The lender will start your file, give you a list of paperwork required, order an appraisal and credit reports, verify your employment and income, and more. Here's what happens after you receive your preapproval letter and decide to move forward with the purchase. Sure, you may get a loan preapproval, but don't think for one minute that this guarantees you will get the loan. DON’T MESS WITH YOUR MORTGAGE PRE-APPROVAL // A common reason for a real estate deal to fall apart is that many homebuyers don't fully understand the mortgage process.
Thankfully, our expert Real Estate Agent Matt Bruno is sharing four helpful tips on how to keep the deal alive:ġ. While it’s true some deal-killers are simply unavoidable, many times they can be prevented. Losing out on your dream home is nothing short of heartbreaking.
Discover each of their fantastic businesses in Volume 5 of The Scout Guide Baton Rouge.Ĭlick HERE to read the full article and see more pictures of this spectacular office designed by RCL Interiors. We’ve had the pleasure of getting to know each of these talented women that makeup these three businesses, and they are not only experts of their respective crafts, but also genuine, wonderful humans beings. Local to Baton Rouge and also featured in our publication, Erin is a phenomenal artist making big waves in her industry.
Inside the doors of their feminine yet professional workspace, you will notice several remarkable pieces of artwork commissioned by Erin Lato. Kate Chiasson and Ann Reilley, this boutique practice is one of the only mother-daughter plastic surgery teams in the entire country! And another excellent business featured alongside Rachel in our most recent edition of The Scout Guide Baton Rouge. In this lovely article written by Rachel Cannon of RCL Interiors, she reveals an up-close look at the beautiful office space designed for Ford Plastic & Reconstructive Surgery.