Qualifying for a mortgage often requires some very specific criteria. And any time you make changes to your financial situation, your ability to qualify can change. That’s why it’s crucial to be careful regarding your finances throughout entire processes of buying a home. This includes from the time you receive your loan approval, all the way until your home purchase closes. After your real estate purchase is complete, you’re OK to buy that living room set on 12-month same-as-cash…just not before. There are things home buyers should never do during the purchase process.
10 things home buyers should never do during the purchase process:
- Change jobs, quit, or become self-employed
- Make large purchases on credit, such as a vehicle, furniture, etc
- Run up your credit card debt
- Pay late or skip a payment on credit
- Spend money you’ve set aside for your home purchase
- Apply for new loans, credit cards, or lines of credit
- Close any credit accounts
- Change bank accounts
- Make large deposits without first checking with your loan officer
- Co-sign for anything
Any of these things can really throw some unexpected hiccups into your home buying plans; or even derail them completely! Even though most of these items may not seem like a big deal, they cause trouble more often than you’d expect. Be sure to check with your loan officer any time you’re unsure. Best of luck with your home purchase!
Questions? Feel free to reach me below.
Justin Rollheiser – REALTOR®
Keller Williams Realty | Diamond Partners, Inc.
13671 S Mur-Len St | Olathe, KS 66062
Cell 913-800-7653
Office 913-322-7500
www.JustinRollheiser.com
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