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.
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We entrusted Jill Wente with the sale of our current home and purchase of a new home. From the beginning... read moreWe entrusted Jill Wente with the sale of our current home and purchase of a new home. From the beginning she was extremely up front and honest about exactly what we would need to do to get our house sold. We had an incredibly tight timeline, that she explained would be difficult to make - but she helped us make it happen and our house was under contract in 2 days! She had recommendations for all our home repair needs and they were all professional and fairly priced. She worked hard to really sell our offer for our new home - she was able to pull off the tight timeline, securing a rent back from our old house so we had time to move out, and a contingency for our new home. Definitely exceeded our expectations. She was so helpful along the way - as first time home sellers we really relied on her and we feel lucky to have worked with her! You will not regret working with Jill! read less