More Credit Don'ts

Welcome back to my video bog! Last time I talked about things to avoid when you are applying for a mortgage. Well, I have a few more tips for you!

The first is do not go out and make new purchases. Just last week I had a couple that was all set for their loan. Then they cosigned for a relative’s car purchase. Because of that new $425 monthly payment, they were no longer approved for their loan. So, please do not go out and purchase a car, furniture or cosign for anyone!

Secondly, do not consolidate your credit cards. Some people think if they close their cards and consolidate to one payment their credit will be better. In reality, though, when you close a credit card, you lose all your credit history.

Thirdly, do not max out or overcharge your credit accounts. These two things can damage your credit by as much as 100 points. Plus, it can take months to untangle.

If you have any more questions about applying for a mortgage, please give me call! Thank you for watching!

Why work with us?

Jan Leasure has done it all. You may know her as your former teacher (Jack Benny Junior High School, Waukegan), as your college instructor (Columbia College), as a journalist (contributing editor to Mortgage Broker Magazine, Mortgage Originator Magazine, or the money-saving $uper $aver), or as your mortgage banker. She entered the field of mortgage banking in 1996 because it gave her the opportunity to do several things she loves: help others, teach, and solve problems. Jan accepted her current position as Division President of Diamond Residential Mortgage, Libertyville for three reasons: Their commitment to personalized customer service, their determination to ensuring that all loans close with integrity, and the great support and positive attitude that the company emanates through every employee.

Diamond Residential is built on a foundation of common sense, integrity, and excellence within a “can-do” environment. The team is primarily focused on meeting the needs of their customers and is composed of experienced mortgage professionals. President/CEO Paul Diamond has over 28 successful years of expertise in both banking and mortgage banking. Jan Leasure has received an award for her work on behalf of consumers from President Ronald Reagan and the U.S. Office of Consumer Affairs. Additionally, she was nominated as Loan Officer of the Year by the Illinois Association of Mortgage Processionals several times, most recently in 2018. If you want to work with someone with a successful track record and who works for a company that strives to deliver every one of their products with integrity, on-time, and error-free, give Jan a call!

Jan Leasure
Division President
Diamond Residential Mortgage
NMLS #213431
533 N. Milwaukee Avenue
Libertyville, IL 60048
Phone (847) 362-1335
jan.leasure@thedrmc.com

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More Credit Don'ts