A Loan Don’t !!

Here is a nice tip for a “don’t” during the loan process

 

 Don’t try shooting for that six-bedroom house in the Hamptons if it’s going to be too much of a stretch in your current budget. Lenders consider what’s known in the industry as “payment shock” when approving loans. Someone who goes from a relatively small monthly housing payment to a large one either won’t qualify for a mortgage or will end up having to cover too much loan with too little money.

 

Stayed tuned for the next “don’t”  to come your way!!

Leave a Reply

Your email address will not be published. Required fields are marked *