Don’t buy a car:
An oft too common loan approval casualty is when people buy a car just before or during the loan process.
This problem is usually with a first time home buyer. We mean to be a site for quick and valuable information for all buyers. Here is a basic. Hold the tempation, wait until closing is alllll over is the rule.
I will never forget the Doctor and his Jag. He was not a first time home buyer. The new jag payment was almost $800. Neither DO or LP would take his loan. (Be familiar with these terms. They are the initials for Fannie Mae and Freddie Mac approval software.) We had to go to a special program that charged a higher rate. His pride was injured, his temper hot, and the end result outa luck Doc. He didn’t consult with me he just did it.
Larry Cragun
