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What NOT To Do Before Closing On Your Home

Make Any Large Purchases

I know you have your eye on that beautiful couch or dining room table for your new home. You just can’t wait to decorate and buy everything to fill the home. One BIG piece of advice is to wait until after closing or until your lender gives you the ok. A large chunk of money being withdrawn from your bank account or putting it on a credit card to increase your debt can result in you not qualifying for a loan. So sit tight, and just be a window shopper until closing day!

Change Your Marital Status

How you hold title us affected by your marital status. It is best not to change your marital ststus during the closing process. However, if you do be sure to make both your lender and the title company aware so the proper documents can be altered.

Change Jobs

Sometimes a job change can result in your loan being denied. Things such as moving to a different field or taking a pay cut are things lenders factor in when applying for a loan.

Pay Off Existing Accounts

Although you may think that paying off your credit cards or student loans before closing may help you out, it may hurt you in the end. Unless you lender requests that you pay something off, just leave your balances as is and just continue to pay regularly.

Switch Banks

Taking all your money out of one bank and putting it in another is a big no no. Your lender has already verified all the funds in your account and it should remain there until closing.

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