Have you heard about this great financing option in Polk County?
Prairie Meadows and Polk County Housing Trust Fund are working together to offer a down payment assistance program for those purchasing a new construction home. Here’s a quick overview, but please contact Dave Lewis with HomeServices Lending for all of the details:
- For New Construction Home Loans
- 1-2 people $70,400 income limit
- 3+ people $80,500 income limit
- Home must be in Polk County
- Up To $15,000 match toward down payment!
Want to see how much you can save?
Fill out this form to get started …
*The loan of up to $15,000 is forgivable on a pro rata basis over ten years. No monthly payments I The funds are limited and subject to eligibility requirements, including a funds matching requirement. Contact HomeServices Lending today or
visit h1tps://www.pchft.org/ for more information.
HomeServices Lending, LLC does not offer loans in all states. Licensed by the Iowa Division of Banking: License Number 2014-0055. Licensed by the Nebraska Department of Banking and Finance: License Number NE490683. 2700 Westown Parkway, Suite 345, West Des Moines, IA 50266. ©2020 HomeServices Lending, LLC. All Rights Reserved. NMLS ID# 490683 (www.nmlsconsumeraccess.org/) (02/20)
You’ve done everything right so far; you’ve found a great lender, received a preapproval and submitted your loan package for final approval. Now you’re done, right? Wrong. Until you close on your new loan, it’s more important than ever to keep your credit steady; most lenders perform one last credit check right before they fund and a decline in your score can mean the difference between getting the home and losing the loan.
Things You Should Never do After Applying for a Loan
- Don’t Change Jobs – While sometimes it’s unavoidable, especially if a new job is the reason for the move, but any change in income or job status creates risk and should be avoided if possible.
- Don’t Make any Large Purchases – As tempting as it may be to go shopping for new furniture, wait until after you close to make any large purchases. This applies to furniture, appliances and even new cars. New loans could change your debt to income ratio and cause you to no longer qualify for the loan.
- Don’t Apply for New Credit – Every time someone runs your credit report, your score is affected. This is not the Dme to search for a new credit card.
- Don’t Close Any Credit Accounts – It might seem counterintuitive, but closing or paying off loans or credit cards might actually bring your FICO score down. The length of time you’ve had your credit open is a positive effect on credit scores.
The bottom line is to avoid doing anything to your credit. If you’re unsure of what you can or cannot do, ask you lender; they can guide you in the right direction and make sure you close on your new loan.
For specific questions about home loans, contact our preferred lender Dave Lewis with HomeServices Lending.