10 Commandments For Closing A Home Loan
As we move into the closing phase, there are a few important things to be mindful of between now and closing day. We’ve seen some very common (and very avoidable) missteps create unnecessary stress, delays, or even risk a contract and our goal is to make sure that doesn’t happen to you.
Below, we’ve outlined a few key things to avoid so everything stays smooth, on track, and headed straight to the closing table. If you ever have questions or something feels unclear, please reach out before making any changes, we’re here to guide you every step of the way.
10 COMMANDMENTS FOR CLOSING A HOME LOAN
1. THOU SHALL NOT CHANGE JOBS, BECOME SELF-EMPLOYED, OR QUIT YOUR JOB
2. THOU SHALL NOT BUY A CAR, TRUCK, OR VAN (OR YOU MAY HAVE TO LIVE IN IT)
3. THOU SHALL NOT USE CHARGE CARDS EXCESSIVELY OR LET YOUR ACCOUNTS FALL BEHIND
4. THOU SHALL NOT SPEND THE MONEY YOU HAVE SET ASIDE FOR CLOSING
5. THOU SHALL NOT OMIT DEBTS OR LIABILITIES FROM YOUR LOAN APPLICATION
6. THOU SHALL NOT MAKE LARGE PURCHASES FOR THINGS LIKE FURNITURE OR APPLIANCES
7. THOU SHALL NOT ORIGINATE ANY INQUIRIES INTO YOUR CREDIT HISTORY OR CLOSE ANY EXISTING CREDIT ACCOUNTS
8. THOU SHALL NOT MAKE LARGE DEPOSITS WITHOUT FIRST CHECKING WITH YOUR LOAN OFFICER
9. THOU SHALL NOT CHANGE BANK ACCOUNTS
10. THOU SHALL NOT CO-SIGN A LOAN FOR ANYONE
