When you’re buying a house, there’s an anxiety-filled time delay between making the deal and closing day. The details usually come together, but what happens if your loan falls through?
Don’t panic. If your lender refuses to finance you, it doesn’t have to be the end of your home ownership dream. Here’s what you can do to move forward.
It’s frustrating when you get so close to buying a house and lose it. If you must walk away from your dream home, you’ll move forward having learned some tough lessons. Before you get back out there, take a few preparatory steps.
While it won’t guarantee home financing, pre-approval gives you a potential yes. Access your three major credit reports at annualcreditreport.com and work out any problems ahead of time. Maintain career and income consistency. Both are critical to the home loan evaluation process.