Short answerDo not open new credit, finance a car or furniture, change jobs, quit, move large sums without a paper trail, co sign a loan, or miss a lender request. Lenders often recheck credit and employment right before closing, and a change can delay or end the approval.
The list
| Avoid | Why |
|---|---|
| New credit cards or loans | Raises debt and can lower your score |
| Job changes or reduced hours | Lenders verify employment again before closing |
| Large undocumented deposits | Every source of funds must be explained |
| Big purchases on credit | Changes your debt to income ratio |
| Missing deadlines in your contract | Can cost contingencies or earnest money |
Tell your lender before you do anything financial you are unsure about.
Frequently asked questions
Can I buy furniture before closing?
Wait until after closing, or pay cash and tell your lender first.
Will my lender check my credit again?
Many do a final check or monitoring before closing.
Keep reading
Looking at a house and not sure what you are getting into?
Ask for a free Before You Offer review. Send me the listing. I look over the photos, the seller's disclosure, and recent sales, then flag likely condition issues and planning cost ranges before you write an offer.
Request a Before You Offer reviewOr call or text (812) 525-5489, or email [email protected].
The Before You Offer review is a REALTOR® and contractor review of the listing, not a home inspection. It is for buyers who are not already working with an agent. If you have an agent, please bring these questions to your agent.
Sources
Written by John Long, REALTOR®, 1 Percent Lists Indiana Real Estate. Working contractor who has priced hundreds of home inspection repair requests. Former labor relations negotiator for a major manufacturer and U.S. Coast Guard veteran.
John Long, REALTOR® · 1 Percent Lists Indiana Real Estate · (812) 525-5489 · yourpropertynegotiator.com
This page is general information, not a substitute for a professional home inspection, and not legal, tax, insurance, or lending advice. Ask a real estate attorney about contracts and disclosure, a CPA about taxes, your lender about loan rules, and a licensed inspector or tradesperson about your house. Nothing here guarantees a sale price, net proceeds, repair cost, payment, timeline, appraisal, inspection result, or loan approval. Cost figures are planning estimates, not bids. I own Wardmark Property Operations LLC, a contracting company. You are always free to use any contractor you choose.