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Lenders are Googling You Prior to Approving!

Lenders are Googling You!

Lenders are Googling You Before Approving You!

It’s important to remember that there’s no such thing as a private life on social media. What you post on your social media accounts, including Facebook, Instagram, Twitter, etc, can pose a huge problem for you if the wrong person comes across certain details.

And, when you’re in the market for a Red Deer mortgage, there’s a growing trend where lenders are Googling prospective borrowers before approval for any red flags of higher-risk activities that could indicate they’re not a secure investment.

While this approach is completely subjective, that’s not stopping lenders from scrutinizing your posts.

Protect yourself

Really, the only way to safeguard yourself is to not post anything you wouldn’t want your mother or grandmother to see. You may think something you’re about to post is okay, but will it translate well to someone – like a lender – who doesn’t know you?

I’ve heard some incredible stories from lenders about reasons they’ve turned people down for mortgages. These have ranged from someone standing beside a marijuana plant in their backyard to purchasing expensive vehicles or quitting/getting fired.

Sure, pot may be legal, but that doesn’t mean lenders want to see you growing it. Grow ops are a serious funding disaster for lenders.

And once you’re approved, a lender can still revisit your details before closing, and could pull the deal if they feel uneasy about anything they’ve learned about you online!

This is a great topic to bring up with your kids who may be in the market for their first home in the coming years as well. And the same holds true for prospective employers checking up on applicants. You truly never know who’s watching your life unfold – or unravel – on social media.

Have questions about how to safeguard yourself leading up to approval and funding, or your Red Deer mortgage needs in general? Answers are just a call or email away! Contct Brandi Pierik, Dominion Lending Centres, your Red Deer Mortgage Broker for all of your Pre-approval, First Time Home Buying and Red Deer Home Purchase needs.


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