5 Things Not To Do Before Your Closing Date🏡

5 Things Not To Do Before Your Closing Date🏡

So you’ve bought a home and you’re waiting for the closing date. Here are 5 things you should avoid doing before your closing date, to avoid last minute complications.

  1. Change Jobs: A job change may result in your mortgage being denied, particularly if you’re taking a lower paying position or moving into a different field. Despite receiving your pre-approval earlier in the process, your lender may once again verify income just before the closing.
  2. Make Any Large Purchases: A major purchase that requires a withdrawal from your verified funds or increases your debt can result in a lower credit score. Avoid any major expenses, like the new bedroom set you’re thinking about, until after you close.
  3. Get Behind On Bills: This ties back to your credit score. Having a late payment hit your credit before closing can lower your score and devastate your deal.
  4. Shuffle Your Money: Your lender surely looked at your recent bank statements as part of your pre-approval process. It’s likely they’ll take another look at your assets and bank records again just prior to closing. Avoid depositing any undocumented large amounts of cash into your account.
  5. Change Your Marital Status: How you hold the title of your property is affected by your marital status. Be sure to advise your lawyer of any changes in your marital status so that documents can be prepared correctly.

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