Q&A with Pam – What Should I NOT Do Prior to Final Loan Approval?

    Question: My offer was accepted on my dream home. What should I NOT do prior to final loan approval?

    Answer: Your Pre-Approval gave the sellers confidence that you can obtain financing, but it is not your final loan commitment. Here are things to avoid:

    DO NOT change jobs, become self-employed or quit your job

    DO NOT make major purchases (car, furniture, facelift)

    DO NOT spend money you have set aside for closing

    DO NOT charge up your credit cards or make late payments

    DO NOT allow anyone to run your credit

    DO NOT deposit gift funds or make large deposits/withdrawals without lender approval

    DO NOT change bank accounts

    DO NOT co-sign a loan for anyone

    Closely monitoring your financial activity is critical to ensure a smooth approval.

     

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    Our agents write often to give you the latest insights on owning a home or property in the local area.

    Testimonials

    August 2013

    My girlfriend and I used Pam Jacobs to help us search for our new home. Pam was very helpful and patient with us, considering we were first time home buyers. We had our hearts set on a specific neighborhood, and had certain listings picked out to look at. We currently live in our dream house, and it was one we didn’t even find! With her knowledge of the market and location, Pam had found our house near a listing we wanted to see, and the rest is history. We could not have done this …

    Nick Martinez, Fox River Grove