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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    May 2014 My husband and I first met Pam in 2008 regarding the sale of our home, which had been on the market for over a year. We signed on with Pam and followed her advice about staging the home. Not only were we pleased that the house sold in a few days, we were very impressed by Pam’s knowledge of the market and prospective buyers. When it came time to look for a realtor to help my parents relocate closer to my siblings and me, I immediately thought of Pam. Pam understood the dynamics …
    Patricia Filley, Deer Park