Many factors can affect your financing during the home buying process. From the time you apply for a mortgage until the time of closing, you should not make any drastic changes to your financial status. So, be sure to follow these 8 tips in order to keep your financing intact for your closing.
1) Dont co-sign a loan for someone else.
2) Do not become self-employed, change jobs, or quit your job.
3) Set aside your money for closing costs, and dont touch it until closing!
4) Be sure to make your credit card payments on time, and dont use your cards excessively.
5) I know it is tempting to buy furniture for your new house, but just wait until after the closing!
6) Do not buy a new car (as one home loan officer joked, You may be living in it!).
7) If you need to change bank accounts, wait until after the closing. If you cannot wait until after the closing, talk with your lender before making any major changes to your accounts!
8) When you fill out your loan application, be sure to include all debts and liabilities its better to know about these sooner than later.
Youve worked hard to find a house and get everything ready for your closing. At this point, youve already been approved for the loan, so try to keep your financial status as stable as possible until the closing. Dont let financing mistakes like these keep you from closing on the home you really want!
Lee Keadle is a full-time real estate agent in Charleston, SC. He works with a team of three agents to give buyers and sellers the best services possible. You can search for homes and vacant land on our website at http://www.SearchForCharlestonRealEstate.com
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