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Do not take on any new debt.
The temptation is strong. There are so many big purchases people want to make in connection with a move: appliances window treaments, furniture etc. When you add to this the fact that, today, everyone offers terms and no money down- well, why not just do it ? Answer because you will change what the mortgage industry calls your "debt -to -income ratios" ( the realtionship of your income to your debt).
Do not change jobs.
If at all possible try not to make a career move during the time between your mortgage application and the cloing on the home you are purchasing. But, you ask, "What if its a BETTER job, for MORE money, in a DIFFRENT field ? " Still try and wait until AFTER closing. One of the factors mortgage companies consider is lenght of present employment; they are partial to stability. At the your least, changing jobs initiates the need for more paperwork , and may delay your closing.
Do not pack to soon.
Well, go ahead and pack your clothes and dishes. But do not pack your bankstatements, tax returns, or other important paperwork. Most, especially do not pack your checkbook! More than one buyer has had closing delayed while their freind or relatgive hurried over with additional funds because the checkbook was in the moving van.
Do not lease a new car.
This should go under the general heading of " no new debt. It is highlighted here because for some strange reason, many buyers do run right out and lease a new car during the time between mortgage application and closing! As with any debt, this will change your " debt - to - income ratios" and may cause you not qualify for a mortgage.
In short, do nothing that negatively impacts your ability to qualify for a mortgage laon, or initiates a new round of paperwork. If you have any doubts about doing something that may affect your ability to qualify for your mortgage loan , please consult with you loan provider before you do it.
These suggestions are merely that- suggestions. No one is saying , flat out that bad things will necessarily follow if you do any of the above. They are offered as caustions. Many buyers seen to view the mortgage application procedure as a static action, a sbao shot of their financial lives at a given moment in time. Its not. It's an on- going process that takes into account everything you do right up until the day of closing.
 Nikitas Kouimanis
Senior Loan Officer
NMLS# 9659
516-708-2420
It is easier to turn your dreams into reality when you have the assistance of a kowledgeable mortgage professional. If one of your dreams is to purchase the home you have always longed for, call me and let's get started.
Remember, until you take that first step, your dream home is just a dream.
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Trust. Integrity. Professionalism.
Mortgage Programs For Any Need Purchase or Refinance
Call today for your free consultation:
(800) 345-7332 ext 2420 |
I am dedicated to the highest standards of ethics and responsiveness in its effort to meet the changing needs of borrowers in a constantly shifting environment.
I make our experience count. I am personable, educated, skilled and experienced. I work hard to build long-term relationships that result in repeat business and referrals.
Rapid and courteous response. I and my staff will endeavor to offer swift, courteous and professional service towards obtaining rapid approval. I will work around your schedule to implement what is in the client's best interest.
Creative thinking. As each loan application is unique, I pay utmost attention to our clients' needs, and offer options that are right for their situation at the most competitive rates and terms.
I encourage communication and client feedback. We strive to educate our client on every step of the loan process. I constantly maintain our qualitative edge by soliciting client interaction and implementing astute suggestions. I believe the loan process is a team effort.
Careful attention to detail. Our pledge is to prepare each loan with adequate and proper documentation, which is the key to a successful and smooth loan process.
A pleasant experience. Financing your home is a lifetime event. My commitment is to attend to your needs and render the process smooth and hassle-free. We believe the loan process should be an enjoyable ride.
About Sterling National Mortgage
Sterling National Mortgage Company, Inc. is the mortgage subsidiary of Sterling National Bank, a full service banking institution founded in 1929. Sterling National Mortgage Company has an extensive range of residential mortgage products and while it conducts business nationally, Sterling is headquartered in Great Neck, NY. Sterling has built a solid reputation for serving customers based on integrity, commitment and exceptional service.
Sterling National Bank is the principal banking subsidiary of Sterling Bancorp (NYSE: STL), a New York-based banking and financial services company with assets exceeding $2.2 billion.
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