Buyer's Guide
Lansing Area Real Estate

Avoiding problems ...after you've been approved
Don't buy a new car!

Once you have decided to purchase a home, it is very important to avoid making financial decisions that will affect your ability to qualify for a mortgage loan. Even if you’ve been approved for the loan, changes in your financial stature can cause serious problems prior to closing.

you’ve closed on your new home, you can do anything you wish.
Until then avoid the following traps:

  • DO NOT make major purchases. 
    Large monthly payments will affect the amount of home you can qualify for and may even prevent you from being approved for a loan. Wait to purchase a new car, furniture, or that big screen television until after you’ve closed on the home.  

  • DO NOT change your job.
    Lenders want to see that you have job security. Changing jobs before or 
    during the loan process can cause serious approval problems, especially if 
    your new job is in a different line of work. Lenders feel most comfortable 
    with borrowers who have held the same job for at least two years.

  • DO NOT pay off your bills.
    Paying off your bills could use up the funds you’ll need for down payment 
    or closing costs. Your loan consultant will let you know which bills you may
    need to pay-off in order to qualify for a loan. 

  • DO NOT change banks.
    Leave your funds where they are. Transferring them can cause verification
    problems and slow down the approval process.


Lansing, East Lansing, Okemos, Haslett, Williamston, DeWitt, Bath, Perry, Holt, Mason, Leslie, Dansville
Stockbridge,  Webberville, Grand Ledge, Charlotte, Olivet, Potterville, Eaton Rapids, St. Johns, Laingsburg, Owosso, Portland

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Office:   517-324-3200
Fax:   517-324-3201
Toll Free:   877-326-3772


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