Hold the Pickles..Hold the Lettuce
Kathy Riggs September 21st, 2009
Remember the fast food jingle from a few years back – hold the pickles, hold the lettuce, special orders don’t upset us?
Well, that concept is fine if you are ordering a hamburger from someone willing to make to make changes to make you happy but not if you are buying a house. If you are under contract and plan to close prior to November 30, you can only think about making a large purchase on credit prior to closing your loan. Lenders are looking at credit with a fine tooth comb and buyers, particularly first time buyers should hold off on making any large purchases such as furniture with credit until after the loan is closed. Even a credit inquiry can raise a red flag to an underwriter.
And if you have been shopping around for what is probably the biggest investment in you life, you do not want to do anything that might jeapordize the loan and cause you to lose your dream home.
The furniture or other large unnecessary purchase can wait the 30-45 days it takes to go from contract to closing.
Don’t forget, if you are planning to cash in- and I use that term loosely – on the first time home buyer’s tax credit, you need to be looking now, not two weeks from now. Contracts need to be signed by mid-October to allow lenders to meet the November 30 deadline.
on the lighter side…
New Homeowner to Friend: When my Realtor said location, location, location I didn’t know I was buying three houses.
Open House Sunday, September 27
Join me for an open house from 2-4 p.m Sunday, Sept. 27 at 3010 Rouse Road, Kinston NC.
SHAMELESS PLUGS
I have a client interested in purchasing an existing poultry farm. I also have some clients very interested in purchasing several tracts of 60 to 80 acres of farm land.
Call me at 252-939-2432 or email me at kriggs@kathyriggs.com for more information.
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