Once your offer is accepted, your lender takes a close final look at your finances. This is called underwriting. A few innocent choices during this time can delay or even derail your closing.
Avoid these until you have the keys
- Opening new credit cards or loans, including store cards and "buy now, pay later" plans.
- Financing a car or furniture.
- Changing jobs or becoming self-employed without talking to your lender first.
- Making large cash deposits you can't document.
- Moving money between accounts without keeping statements.
- Missing any bill payment, even a small one.
Do these instead
- Answer your lender's document requests quickly.
- Keep paying every bill on time.
- Ask your lender before any big financial decision.
- Save receipts for any gift funds and get a signed gift letter.
The furniture can wait a few weeks. Once you close, you'll enjoy it more knowing your home is secure.
This article is general information, not legal or tax advice. Rules can change, so confirm details for your situation.