Evans, GA -- (ReleaseWire) -- 09/30/2015 --Getting approved for a home mortgage loan is a great achievement, but it is only the first step. Berkshire Hathaway HomeServices Beazley, REALTORS® explains that prior to a mortgage settlement, lenders recheck the information provided by their borrowers.

"Your lender will recheck your credit profile just prior to your settlement as well as verify details such as your place of employment to make certain nothing has changed," says Berkshire Hathaway HomeServices Beazley, REALTORS®.

If the figures are different at the time of the settlement, borrowers risk having their home loan delayed or derailed completely. To help their readers avoid either of these happening, Berkshire Hathaway HomeServices Beazley, REALTORS® shares 8 common mistakes borrowers make.

Before the mortgage settlement Berkshire Hathaway HomeServices Beazley, REALTORS® says home buyers should avoid applying for new credit, closing old credit accounts, and increasing their debt.

"Every time you apply for credit, it lowers your credit score," explains Berkshire Hathaway HomeServices Beazley, REALTORS®, including credit cards at nearby home improvement stores. And while financially speaking, it can be a good idea to close unused credit accounts or transfer debt to a single line of credit it will also shave a few points off a credit score.

"Lenders will also recheck a borrower's debt-to-income ratio prior to signing the mortgage settlement so it is extremely important not to accrue more debt than you originally claimed," says Berkshire Hathaway HomeServices Beazley, REALTORS®. While getting a mortgage approved may be cause for celebration, it is best to wait to purchase a new car until after the move. "Taking on more debt could cause you to go above the maximum acceptable debt-to-income ratio that your lender previously approved," says Berkshire Hathaway HomeServices Beazley, REALTORS®.

Other mistakes, Berkshire Hathaway HomeServices Beazley, REALTORS ® warns against are neglecting to leave a paper trail and failing to make other bill payments.

Unusual deposits will show up on the lender's radar. Because of this, it's a good idea for homebuyers to have complete and accurate records readily available for their lender.

In addition, it's important for borrowers to keep up with all of their bills, and pay them on time. "Because one of the most important elements of your credit score is your history of on-time, in-full payments, [not paying a bill] can be extremely detrimental," says Berkshire Hathaway HomeServices Beazley, REALTORS®.

To see the full list of "8 Mistakes to Avoid while Waiting for your Mortgage Settlement," read the blog post here:
http://www.bhhsbeazleyrealtors.com/blog/mortgage-settlement-mistakes-to-avoid/

About Berkshire Hathaway HomeServices Beazley, REALTORS®
Established in 1985, Berkshire Hathaway HomeServices Beazley, REALTORS® is locally owned and operated. The agency continues to set the pace in the Augusta metro area for high customer satisfaction. The real estate agents at Berkshire Hathaway HomeServices Beazley, REALTORS® stay on top of real estate trends, and have plenty of homes for sale in Augusta, GA and Aiken, SC. Whether you are buying or selling a home, Berkshire Hathaway HomeServices Beazley, REALTORS® will make your experience not only simple, but enjoyable.

For more information interested parties can call 706-863-1775.

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