Okay, I admit the title for this post is a little bit dramatic. But I needed to get your attention to let you know of a change in the mortgage industry. As a Spring Texas Realtor, I do not even attempt to stay on top of the ever changing mortgage industry. Instead, I rely upon the expertise and knowledge of the loan officers at HomeTrust Mortgage .
The other day, I received the following email from Marilyn Causy of HomeTrust Mortgage outlining the latest change in the mortgage industry:
” We are now required to pull a one bureau credit report three days prior to closing on every loan that is taken after June 1, 2010. Even though we always stress to our borrowers that they should not make any new purchases prior to closing their loan, we really need to stress this more. If we have a borrower that has marginal credit scores or tight debt-to-income ratios to begin with, any negative change could cause the loan not to close and it would be right before closing that this could happen.
You should be and will be excited about purchasing a Spring Texas house just don’t let it get the best of you. Do all the shopping you want but hold off on buying until after you close on your house. I know I may sound like your mother but … oh well. I would rather that than you being mad at me because I didn’t give you proper advice.
Jill is a very experienced agent. Her knowledge of the market and the Spring area was apparent from the very... read moreJill is a very experienced agent. Her knowledge of the market and the Spring area was apparent from the very beginning. As a first time home buyer, I was unfamiliar with the home buying process and she explained every step and answered all my questions. She is very responsive to all levels of communication and conducts herself in a extremely professional manner. She helped me get through an unusual buying situation and ultimately helped me find a great home that met my needs. I will most definitely use Jill's services the next time I need a real estate professional. read less