• Skip to main navigation
  • Skip to content
  • Skip to footer

Discover Your Dream Home

Talk To The Maxwell House Group Now!

The Maxwell House Group Charlotte NC Real Estate Agent
Have a question? Give us a call at (704) 491-3310, or you can contact us for more options to call or email and we will contact you right away.

Trending Charlotte Searches

  • Charlotte
  • Charlotte Homes in 28202
  • Charlotte Homes in 28203
  • Fort Mill
  • Davidson
  • Huntersville

Account Tools

  • JOIN DEAL ALERT

    Get New Properties & Price Update Alerts sent straight to your inbox

  • FAVORITES

    Login to manage your favorites, save listings & searches

  • PROPERTY SEARCH

    Find Homes using the most powerful Search tool in Charlotte NC

  • MARKET REPORTS

    Find out what other homes in your area are selling for, homes that have sold and trending real estate data

Charlotte NC Homes for Sale By The Maxwell House Group, RealtorCharlotte NC Homes for Sale By The Maxwell House Group, Realtor

  • HOME
  • SEARCH
    • Advanced Search
    • Interactive Map Search
    • New Listing & Price Change Alerts
    • Newly Listed Homes
    • Upcoming Open Houses
    • Search by Listing ID
    • Search by Address
    • My Saved Properties
  • BUY
    • Join Deal Alert
    • Steps to Buying
    • Mortgage Calculator
  • SELL
    • What’s Your Home Worth?
    • Steps to Selling
    • Marketing Your Home
    • Local Market Reports
    • Steps to Selling
  • NEIGHBORHOODS
    • Charlotte
    • Fort Mill
    • Davidson
    • Huntersville
    • VIEW ALL
  • HOT
    • Our Featured Properties
    • Today’s Newest Listings
    • Upcoming Open Houses
  • BLOG
  • ABOUT
    • About The Maxwell House Group
    • Client Reviews
  • CONTACT
  • (704) 491-3310
SearchClose

When Buying a Home in Charlotte, Hold Off on Your Spending

Charlotte NC home buyers hold off on your spendingIf you are buying a home in Charlotte NC and you have been approved for a mortgage based on your credit, be aware that, effective June 1, 2010, your lender may order another full credit screening.

This is to ensure that you have not taken out, or even shopped for additional loans – a new car, furniture, and new credit card, etc. If the new credit screening finds that you have, the loan will be put on hold pending further investigation. If the loans are large enough to affect the debt-to-income ratio this could put an end to the loan as it could mean monthly payments that are too high to support your budget.

Part of Fannie Mae’s loan quality initiative, lenders will be required to get two credit reports, social security numbers and verification of the borrower’s occupancy of property.

When buying a home in Charlotte NC, resist the urge to continue spending after you have applied for a mortgage, because you spending pattern is going to be closely investigated after the second credit screening. You may need new furniture for that home, but you might want to wait until after the closing lest you lose your loan.

Originally posted at http://www.homejane.com/mortgage-credit-screenings.html

Posted in: Charlotte NC Home Buyers, In the News, The Latest on All Things Real Estate - Charlotte NC Tagged: Charlotte home buyer tips, Charlotte Home Buyers, Charlotte NC Buyers

JOIN PROPERTY ALERT

Did you know the hottest homes for sale in Charlotte often sell within days of being listed? Don't miss out! Set up your own custom property alert so you can be notified of the newest homes as they hit the market! Simply click the button below and choose the qualities that you want most in a home and save your search to start getting alerts today!

JOIN PROPERTY ALERT

As local Charlotte Real Estate Agents we also have access to homes before they hit the market and can show you more homes and information that are only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact us at your convenience. There is no obligation and or pressure... we hope to hear from you!

Post navigation

« Is Under Pricing a Home FALSE Advertisement?
Staged, Stunning and SOLD in Marvin Creek! »
The Maxwell House Group Logo in Charlotte NC

Debe Maxwell Logo

Top Real Estate Agent in Charlotte

Real Estate Tools

Join Deal Alert

Get New Properties & Price Update Alerts sent straight to your inbox

Favorites

Login to manage your Favorites, Save Properties & Searches

Local Market Reports

Find Homes using the most powerful Search tool in Charlotte NC

FREE Home Valuation

Find out the TRUE value of your home and what other homes in your neighborhood are selling for

The Maxwell House Group Savvy + Co. Real Estate  Debe Maxwell, CRS

(704) 491-3310

SavvyBroker@me.com
Business Address: 1920 E 7th Street, Charlotte, NC 28204

View The Maxwell House Group on Google

Connect with Us

Areas We Cover

Charlotte, Fort Mill, Davidson, Huntersville, 28202, 28203, 28204, 28205, 28206, 28207, 28208, 28209, 28210, 28211, 28226, 28270, 28277, 29715, 29716, 29708, 28035, 28036, 28078, VIEW ALL

© 2025 · Savvy + Co. Real Estate - The Maxwell House Group · (704) 491-3310 · Privacy Policy · Privacy Settings · Cookie Policy · Terms of Service · Disclaimer · Accessibility Statement · Charlotte NC Homes for Sale

Disclaimer - All Rights Reserved by The Maxwell House Group · Licensed in North Carolina · Charlotte NC Homes & Real Estate · Sitemap · Listings Sitemap · IDX XML Sitemap

Log in · Real Estate Website by YourSiteNeedsMe LLC Logo