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STEP 12 – TO BUYING A HOME – THIS IS VERY IMPORTANT, SO PLEASE READ AND TAKE HEED!
DON’T SPEND EXTRA MONEY !
Your mortgage pre-approval was granted to you based on the amount of money you had at the time of the pre-approval in your savings accounts, checking accounts, retirement accounts, etc., and was based on the amount of debt you had at the time (car payments, student loans, your current mortgage if you already own a home, etc.). If you go out and buy a TV, a new car, new furniture, etc. between now and closing, it will blow put your chances of being approved for your mortgage in jeopardy AS THE LENDER PULLS YOUR CREDIT ONE MORE TIME THE DAY BEFORE CLOSING.
Therefore, it is imperative that you spend as little money between now and your closing date as possible. In addition, be sure to pay all of your monthly bills on time going forward, don’t open or close any credit cards, don’t take extravagant vacations, etc. Often Buyers think it won’t make a difference if they buy a couch, new TV, etc. and charge it to their credit card, but it very well could put your loan in jeopardy . I’ve had a $6 auto-payment from the wrong debit card blow up a deal. So, please do not buy ANYTHING big until you run it past your Lender. Then go wild!
Questions? Contact us at andi@andidyer(dot)com or 360-734-6479.
This content is not the product of the National Association of REALTORS®, and may not reflect NAR’s viewpoint or position on these topics and NAR does not verify the accuracy of the content.
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