10 Don’ts To Sail Through the Loan Process

Once a loan is preapproved, many homebuyers mistakenly believe their loan is a guarantee.  Little do they know, mortgage lenders are still working to fully approve and push their loan through up until closing day.  With these tips, a new homebuyer can help to avoid some common mistakes and sail through the loan process when buying a new home:

1.  Don’t pack papers too early

Underwriters may ask for extra documents so until the loan actually closes, the safest approach is to keep personal financial documents readily available.

2.  Don’t use a 10% appliance discount

Some stores offer an extra 10% off when clients open a new credit card.  Applying for that card could cause your credit to be pulled again just before closing, causing your score to drop and possibly delaying the close.

3.  Don’t make large cash deposits

Defer that $1,000 cash birthday gift until after closing.  All “gifts” have to be verified with a detailed paper trail, so you should avoid making large deposits by cash or check during a home purchase.

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153 Serravista Avenue, Daly City

Large 5 bedroom 3 bath home with panoramic views for sale. This turnkey home features high ceilings, gas fireplace, new flooring, eat-in kitchen, formal dining area, tons of storage and much more! Open layout is perfect for entertaining and well suited for an extended family. One bedroom and full bathroom is located on the main level; 4 bedrooms and 2 full baths downstairs. Ideal Serramonte location is close to everything you need for a comfortable lifestyle and offers a convenient commute location. Just minutes from shopping and transportation; 15 minutes to SFO and Downtown SF; and straight shot to silicon valley. Don’t miss this lovely home!

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153 Serravista Avenue
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Living room with views

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SOLD – 571 4th Avenue, San Francisco

It was an incredible pleasure to help my client buy this stunning 3-level home in the Richmond district, San Francisco, this month.  After a few weeks of looking for the right home, and a couple of failed offers that were beat by all-cash buyers, we beat multiple other offers to get them an even better home in their preferred location.  Things really do happen for a reason, and I am so thankful this worked out for the best!

If you are thinking of buying a home but are worried you can’t compete in today’s market, let’s talk! I can help make it happen.

571 4th Avenue, San Francisco
4 bedrooms, 1.5 bath, 1845 square feet
Listed for $1,699,000 + Sold for $2,100,000
Represented buyer

Photos courtesy of Michael Soon, Climb SF