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  • Writer's pictureColleen

From Agreement to Closing: 5 Tips to Keep your Home Purchase on Track

5 Simple and Easy Tips to Keep your Home Purchase on Track

1.       Be Truthful on Your Mortgage Application.

Lenders have to become more diligent that ever in verifying information on mortgage applications. If you misrepresent your finances and its found out, you;; be denied the loan and face possible criminal implications

2.       Keep Your Job

The lender may refuse to fund your loan if you quit or change jobs before settlement. The time to take either step is after a home closing, not before.

3.       Meet Contingencies

From the contract to financing to inspections, there may be deadlines and actions required before settlement. Do not procrastinate. Take care of anything needed for the successful completion of the sale before reaching the settlement table.

4.       Hold off on Big Purchases

Lenders double-check buyers’ credit right before settlement to be sure their financial condition hasn’t weakened. If you’ve done things financially that may negatively impact our credit score since the initial approval, you may jeopardize your loan.

5.       Consider Deadlines to be Immoveable

Treat a deadline as a sacrosanct. Get funds together within the week before closing. If you need a certified check, get it the day before, not the day of closing. Avoid delays at all costs.

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