Faribault Realtor Discusses Common Mistakes by Home Buyers

Daryl Bauer, Home Resource Group, Remax Advantage Plus was the guest today on our KDHL A.M. Minnesota program.

The veteran Real Estate Agent educated us about the home buying process which is a lot more involved than when I purchased my home in the early 1990's.

I always learn something when Daryl stops by.  For example when talking to your lender about getting pre-approved for a home loan bring your W-2, pay stubs, bank statements with all pages included (even if blank) and tax returns.

The blank pages I was unaware of but it makes sense because you want to show your earnings and what you have available to purchase the home.

Bauer also revealed some common mistakes home buyers make which can end up affecting your home loan.

• Making large cash deposits
• Making large purchases on credit cards (this includes new furniture for your new home)
• Co-signing loans outside of your home loan
• Changing bank accounts
• Applying for new credit cards (for each card you credit rating goes down)
• Buying a car
• Quitting a job

Listen to a podcast of the show below.