Don't make any adverse changes to your financial
"picture" during this time between approval and closing.
Innocent mistakes range from applying for a new department store
credit card, to purchasing a refrigerator for the new house, to
buying a new car, to quitting a job to go full-time into a new
business.
When you supply us information to help verify your income,
employment, assets and credit history, we will obtain a credit
report directly from the credit bureau.
Glossary
W
Wraparound: when an existing assumable loan is combined with a new
loan, resulting in an interest rate somewhere between the old rate and
the current market rate. The payments are made to a second lender or
the previous homeowner, who then forwards the payments to the first
lender after taking the additional amount off the top.
Equal
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