I know you are excited! Only weeks left until you close on your new home. All those rooms to furnish!! Inspection issues are resolved and the mortgage commitment is in…what could happen?!
The bank still needs to do whatever it is they do to issue a “clear to close” a day or two before your scheduled closing. There are several things you can do that might get in the way of those three beautiful words:
DON’T apply for credit: To avoid any change in your credit score, stay away from new credit cards (including store accounts),don’t close accounts and don’t max them out.
DON’T be late with payments: Timely payment of your bills and other debts is important to your lender.
DON’T make a large purchase: Incurring a major expense by buying a car, a boat or a motorcycle can affect your approval for a mortgage. The new monthly payment will change your debt ratio.
DON’T be late with documentation: When a document is requested, providing it promptly is key to moving you toward a smooth closing.
DON’T change jobs: Since lenders require two years in your current job even a position with a better salary can disqualify you for a mortgage. If you have no choice or really want to make a change, please speak with your lender immediately.
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