Your offer has been accepted!! Yay! It looks like you are on your way to owning your very own home. You have your preapproval, your offer has been accepted and inspections have been scheduled. Things are on track to close!
Except for the fact that it isn’t a done deal, so hold up, because guess what? Your lender will be checking your credit again just before your closing date. That means that your finances and employment cannot change at all over the next 30+ days.
If you aren’t sure what that means, here is a breakdown of 10 things that you should AVOID before your loan is funded and your keys are in hand.
8 things to avoid before closing on your home
- NEVER make a big purchase
- NEVER quit, retire or switch jobs
- NEVER open new credit or co-sign for anyone
- NEVER make large cash deposits or make deposits outside your paycheck
- NEVER ignore your Lender or Realtor
- NEVER pay your bills late
- NEVER change bank accounts
- NEVER give out you personal information or allow a credit check
Just remember that nothing is final until you have signed your closing documents, walked through your new home, and handed the keys.
A good rule of thumb is to wait at least 30 days after closing before making any major purchases.
Talking to your lender is always a good idea, they will continue to advise you since they hold your mortgage.