Things To Avoid Before Closing On Your New Home!

Things To Avoid Before Closing On Your New Home!

As a home buyer, you will be so excited when you have found the right home, negotiated a contract, made a loan application, completed the inspections, and the appraisal has met or exceeded the sale price.

At that time, closing will not be far away, and you will for sure be making plans to move and put personal touches on your new dream home.

Even when you have received an initial approval on your mortgage, little things can still derail the process which is not over until the papers are signed at closing and funds are distributed to the seller.

Caveat emptor: Let you, the buyer beware… Lender final verification is usually done again just prior to closing to determine if there have been any material changes to your credit or income that might disqualify you.

Most lending and real estate professionals will recommend that you NOT:

  1. Make any new major purchases that could affect your debt-to-income ratio

  2. Buy things for your new home until after you close

  3. Apply, co-sign or add any new credit

  4. Close or consolidate credit card accounts without advice from your lender

  5. Quit your job or change jobs

  6. Change banks

  7. Talk to the seller or their agent without your Realtor®

Your lender and Realtor® will work together with you to help you get you into your new home. It is understandable that you will be excited and will feel the need to be getting ready for the move.

Planning is fine but when the time comes, don’t do anything that will affect your credit or income while you are waiting to sign the final papers at closing.

We, and our referred lender partners, can help you every step of the way to make your home buying experience a good one! Contact us today to get started!

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