February 2024 - National Market Update  #5
Stop! Don’t Do This When Getting a Mortgage!

Stop! Don’t do this when getting a mortgage! Buyers, if you are applying for a mortgage do not make these common mistakes. If you are getting ready to buy a home, it’s exciting to jump ahead of yourself before closing, but don’t make these costly mistakes before closing. Hi, I am Krista Mashore with eXp Realty and The Mashore Group. Don’t Deposit Large Sums of Cash. Lenders need to source your money and cash is not traceable. Lenders will need your bank statements so if you are planning on depositing a large sum of cash discuss the proper way to document it with your lender. Don’t Make Any Large Purchases. It is not just home-related purchases like furniture and appliances that can disqualify you from your loan, but also buying a new car or an expensive vacation on credit can weaken your FICO Score. Any large purchases can be red flags for lenders. Borrowers with new debt have higher ratios making them riskier for a loan. Resist the temptation for any large purchases until after your closing. Don’t Cosign Loans for Anyone. When you cosign for a loan you are making yourself accountable for that loan’s success and repayment. So if a family member needs some financial help, hold off until your transaction closes. Don’t Switch Bank Accounts. Lenders need to source and track your assets. This is an easier task when there's consistency among your accounts. Switching banks in the middle of escrow may disqualify you from obtaining a loan. And, finally, Don’t apply for new credit. It doesn’t matter if it is a new credit card or a new car, don’t do it. Your credit report will be checked multiple times and applying for new credit could impact your FICO score. If you would like more information on what to avoid when applying for a mortgage and the home-buying process, please reach out to my team and me so we can help assist and guide you through this exciting process. I’m Krista Mashore and when you do what you love, people love what you do.

In 2018 Krista Mashore sold over 22 Million dollars worth of Real Estate and is named in the Wall Street Journal within the Top 100 Agents Nationwide. Please see the article at The Wall Street Journal. To see Krista's local recognition check out this link featured in the Brentwood Press.

Kristas expertise and professionalism is revealed not only in the 14 years in Real Estate but also by being within the top 1% of all Realtors in Contra Costa County continuously since 2002.

Krista posses a Master's Degree in Education, previously employed as a School Teacher. Her excellence derives from her outstanding communication, skills, expertise in marketing, and her optimistic attitude towards life in general. Pristine Customer Service to her clients is a top priority. Krista has a natural ability for developing trust by her client base.

Her attitude is characterized her slogan: "When You Do What You Love, People Love What You Do."