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.

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    January, 2014 Pam and her group are amazing! She walked us through each step of the home buying process, was extremely attentive to our needs, and helped us a find a great home in a short period of time. Her network and references have all been wonderful to work with and responsive as well. I can’t recommend her highly enough and feel very fortunate to have had her as our realtor.
    Derrell Wright, Lombard