From Tuscon to New York, housing markets across the country are cooling due to recent economic downturns. This has left some sellers desperate to part ways with their property and has created wonderful opportunities for inspired buyers.

If you’re among those that have tried to capitalize on the current state of things, received a mortgage loan, and then found that your loan was denied shortly before entering into the closing phase of your purchase, you may be wondering what happened.

Whether you’ve experienced that sad mortgage loan denied last minute feeling or you’re trying to avoid it, you’re in the right place.

In this post, we outline the most common reasons for last-minute mortgage denials. We hope that by being armed with this information, you’ll be able to more reliably borrow money for housing in the future.

1. Assets Changed Dramatically

The amount of money you’re approved for when you take out a loan will be largely contingent on the number of assets you have.

If your lender looks over your existing assets and values them at $100,000, they’re going to be alarmed if just before closing, your assets are halved. That’s because they see lower assets as less cushion should you fall behind on your mortgage payments.

To avoid raising red flags regarding your assets when managing a home loan, do not spend a lot until your housing purchase closes.

2. Loss of Job

Employment is very important when it comes to taking out a home loan. It’s what lenders assume will enable you to keep up with your payments.

Should your employment status change while you’re going through your home closing process, there’s a good chance you’ll run into mortgage loan denied last minute issues.

Frankly, if you feel your job is on the rocks, it’s best not to take on a mortgage. If you get hit with a surprise layoff, be grateful that it happened before purchasing a large asset as opposed to after.

3. Issues With the Home You’re Buying

When you borrow money from the bank to buy a home, they’ll need the house to be appraised to ensure you’re not buying into a dud. This necessitates you having to pay for an appraiser to look your house over.

While most appraisals won’t turn up anything out of the ordinary, some reveal catastrophic flaws like a foundational crack. Once this information is brought to light, banks will almost certainly cancel your pre-approved mortgage.

The good news is that your bank can extend you a new line of lending to invest in another home that’s in better condition.

4. Income Verification Failure

Income verification is diligence that’s performed by your lender to ensure the assets you own/money you’re making exist. Verification is carried out in several ways including looking over your bank statements and talking to your employer.

While verification is relatively straightforward for most, for others, things can get complicated. This is especially true for self-employed individuals that don’t receive W2s.

It could be that after submitting all of your income documentation, late in the home buying process, an evaluator decides that trusting the numbers you outline for your business is too risky, derailing your purchase.

If you’re finding that lenders are struggling with you given your unconventional income streams, try to find lenders that specifically advertise catering to non-W2 individuals.

5. A Shift in Credit Score

As with all loans, your credit score will have a major implication on your loan approval or denial. If your credit score is in excellent shape when you apply for a loan, you’ll likely get approved for the full amount you’re asking for and at a great interest rate.

But what if your credit score shifts before you close on your housing deal? Most likely, your lender will be notified of a major shift in your credit score and may either adjust your interest rate or deny your loan altogether.

Avoiding credit score shifts while house hunting is usually as easy as not applying for any new lines of credit during this period.

6. Changed Lending Guidelines

It’s rare but sudden economic downturns can lead to lending guidelines changing. That shift often creates situations where pending mortgages get dropped for not meeting new criteria.

There’s not much you can do to avoid this mortgage cancellation trigger. The best defense you have is to try to be overqualified when applying for lending products.

7. Late Documentation

Getting your mortgage suddenly denied can come down to something as simple as not filing your paperwork. Don’t fall victim to this devastating and avoidable snag.

Keep in constant communication with your loan officer during the lending process, always ask them if they need anything else from you and, if needed, pick your real estate agent’s brain for advice on how best to proceed.

Leverage Our Tips to Avoid Mortgage Loan Denied Last Minute Drama

There’s nothing worst than being excited about buying a house only to run into mortgage loan denied last minute drama. We hope that the tips we’ve shared make it easier to avoid that fate.

Remember, there’s lots of excellent help out there, some of which is free when it comes to home buying.

Talk to an advisor at your bank. Chat with a real estate agent. You might even choose to locate first-time home buyer non-profits to source information on common mortgage pitfalls.

Our team welcomes you to browse more of our content if you’d like to dive deeper into topics surrounding real estate now!

When it comes to curb appeal, having a green lawn is key to turning heads. In fact, 91 percent of Americans think it’s important to live near trees, grass, or landscaping, and nearly 85 percent feel it’s important that their lawn is well-maintained.

So, how do you get a beautiful lawn? Here are five tips for creating and maintaining an eye-catching yard.

1. Planting New Grass? Test Your Soil

If your landscaping plans include starting from scratch, then testing your soil is the place to start. A soil test can reveal any nutrient deficiencies that may prevent grass from growing. It can also tell you the pH level of the soil.

For a healthy lawn, you’ll want the pH level to be neutral, or fall between 6.2 and 7.2. Having this information before planting new grass can set you up for success and help you get that beautiful lawn.

2. Use the Right Grass

Being aware of your environment is crucial to having a healthy lawn. If you live somewhere with a lot of direct sunlight and higher temperatures, then you should find a grass seed that thrives in that environment.

For warmer climates, try options like Bermuda grass and zoysia grass. But if your home is located somewhere with colder weather, then bentgrass and ryegrass can be better options.

3. Adjust Your Sprinklers

The way you water your grass can affect whether or not you have green grass and a healthy lawn. The trick? Deep watering. You want the water to soak six inches into the ground. To reach that depth, your lawn will need about one inch of water per week.

The time of day can also influence how effective watering is. To get a green lawn and enviable landscaping, remember to water in the morning. Cooler temperatures will lessen the amount of evaporation.

4. Mowing Correctly Is the Trick to a Beautiful Lawn

When it comes to mowing, there are a few tips and tricks to keep in mind. The first is to make sure you’re using a sharp blade. This ensures your grass is cut cleanly and consistently each time.

It’s also important to adjust your mower height based on the time of year. In the summer, let your grass grow taller. In the fall and winter, it’s better to lower the cutting deck.

5. Watch Out for Weeds

Nothing can ruin the appearance of a beautiful lawn like weeds, and it’s important to control them as they appear. Anytime you see a weed in your lawn, spot-treat them. This can keep them from running rampant in your landscaping.

You can also take steps to prevent weeds from growing in the first place. Mulching is one of the easiest ways to keep them from taking root.

Have a Healthy Lawn in No Time

If you’re unhappy with your landscaping, there’s no need to worry. There are plenty of simple adjustments you can make to get a beautiful lawn, from mowing differently to treating weeds.

To learn more about landscaping, check out the rest of our site.

Did you know that 77% of American households were gardening in 2018?

Gardening is a great hobby that many people worldwide enjoy, it can also help you become self-sufficient when you grow your own fruit and vegetables.

Keep reading if you’re just starting out with gardening or if you’re an experienced gardener looking for tips on the essential gardening tools that you’ll need this summer.

6 Gardening Tools You Need to Have

There are many tools that you can purchase to help your garden function and look great. However, it can be confusing for beginners to know what essential garden tools they need. Have a look at our essential gardening tools list and make sure you have all of these handy tools in your shed.

1. Gardening Gloves

Whether you’re a beginner or an experienced gardener, you need to make sure you have a good pair of gloves. Gloves can help protect your hands from getting dirty and from sharp thorns.

Find a pair that fit your hands well, as you want to avoid them falling off or causing blisters. You also need to find a pair of gloves that aren’t too bulky because you’ll want to use them for working with seeds as well as cleaning your gardening.

Other features to look for in a good pair of gloves include durability, breathability, and ones that are waterproof.

2. Watering Can

Up next in the gardening tools list, is the watering can. This essential item comes in a variety of styles, colors, sizes, materials, and nozzle options. You can easily use a watering can to ensure your plants get the water they need to grow.

Watering cans can either be made from metal or plastic. Plastic watering cans are lighter but might not last as long. Whereas metal watering cans can be a lot heavier but will be more durable over the years, providing that you protect it from rusting.

Another key thing to consider when looking at purchasing a watering can is the nozzle type. A larger nozzle will provide more water for a larger surface area, so is better for larger plants and those plants that are outside. While a smaller nozzle is better for smaller plants and indoor plants because it provides a more precise water outlet.

3. Secateurs/Hand Pruners

Secateurs (or hand pruners) are one of the none negotiable garden hand tools that you need. You can use your secateurs to control plants that are growing everywhere and need a little trim. You can also use them to de-head flowers to ensure the plant keeps on flowering.

You can get bypass secateurs, which cut with a sharp blade that passes a sharp-edged flat surface (similar to a pair of scissors). Bypass pruners are best for live plants and green wood.

Or you can get anvil secateurs, which cut with a sharp blade that meets a flat surface (similar to a knife on a board). Anvil pruners work better on dead wood, as they can cause damage to green stems and branches.

It is important to keep your secateurs, or pruners, sharp to ensure cleaner cuts and reduce damage to your plants, so make sure you sharpen them regularly.

4. Loppers

Loppers are similar to pruners, but they provide a longer handle which is handy for those hard to reach places. Loppers are also good for cutting thicker branches, that pruners might have problems cutting.

You can get various sized loppers, ranging from a handle length of 16 to 36 inches. There are also two types of loppers, known as bypass and anvil loppers. Bypass loppers provide a more precise cut than anvil ones.

If you get a good pair of loppers, they should be able to last several years. You’ll need to sharpen them regularly though, to ensure they stay in good condition.

For thicker branches and trees, you might want to consider getting an axe, such as the pulaski axe. Have a look at the uses of pulaski axes to see whether this is the right choice for you. Alternatively, if you have large trees in your garden, you might want to get a professional tree surgeon to help cut your trees.

5. Spade

Digging is a common task you can expect to do in your garden, so you need to have a good spade to hand. Spades are ideal for digging holes for plants, moving dirt around so your plants have the best ground to grow in, and edging your borders.

Some spades can be expensive, however, the initial upfront cost of a high-quality stainless steel spade is worth it because they can last a lifetime. Remember to maintain the spade and prevent it from rusting, otherwise, it might need replacing sooner rather than later.

The best type of spade is one that comes with a longer handle because it provides more leverage when you’re digging. However, these can be heavier than shorter handled spades.

6. Wheelbarrow

The wheelbarrow is every gardener’s friend as these handy tools make it easier to transport heavy items around the garden. For example, you can use a wheelbarrow to carry soil and compost and to carry plants from one spot to another. You can also carry heavy garden items, such as chopped tree branches.

Remember to store your wheelbarrow in a dry location, such as a shed. This will help to prevent it from rusting. Another maintenance tip is to keep the wheels inflated and regularly check that they’re okay.

Stock up on These Essential Gardening Tools and Transform Your Garden

The changes of the seasons are incredible to see in your garden, so make use of your space by planting seasonal flowers and shrubs. But before you do that, prepare your garden for its beautiful transformation by ensuring you have these essential gardening tools.

Remember to always maintain your tools and look after them because this will save you a lot of money in the long run. Well looked after gardening tools can provide a lifetime of use.

Check out some of our other articles to find out more about how to make your garden look prim and pretty this summer.