Buyers: How to Make Sure you Close

One of the most important ways of ensuring you close on your new home is to make sure you do nothing to change your credit. Here are all the main points to make sure your financial situation stays stable so the lender is happy. (After you close, you're free to do what you want.)

  1. Don't omit debts or liabilities from  your loan application. (If the lender finds them later, this may impair closing. 😒)
  2. Don't change jobs, become self-employed, or quit your job.
  3. Don't  buy a new vehicle.
  4. Don't go out and buy furniture or other large expenditures.
  5. Don't  use credit cards excessively or let current accounts fall behind.
  6. Don't originate any inquiries into your credit (such as by applying for a Home Depot credit card or a car loan).
  7. Don't spend money you've set aside for closing.
  8. Don't make any large deposits without checking with your loan officer.
  9. Don't change banks.
  10. Don't co-sign a loan for anyone else.

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