Tips for Mortgage Financing Always check with your lender before doing any of the following prior to closing on your home:
Making A Big Purchase: Avoid making major purchases, like buying a new car or furniture, until after you close on the home. Big purchases can change your debt to-income ratio that the lender used to approve your home loan and couId throw the approvaI into jeopardy.
Opening New Credit: Do not open any new credit cards or get a loan without speaking to your lender first. Missing Any Payments Pay your bills on time to keep your credit score from dropping
Cashing Out: Avoid any transfers of large sums of money between your bank accounts or making any undocumented deposits - both of which could send 'red flags' to your lender.
Keep The Same Job: Be kind to your boss and keep your job. Don't begin looking for new work right now, unless it's a second job to make extra money.
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