Sometimes buyers sabotage their own home closing by making easily avoidable mistakes. These are the top five money miss-steps that can jeopardize your purchase – and they are all within your personal control:
New Loans
Once you have secured financing, do NOT open any new lines of credit. This means no new store credit cards, car loans, or financed purchases of any kind. If your new home needs new furniture, either use cash or wait until 30 days after closing so your debt-to-income ratio does not change. After all, the furniture won’t do you any good if you can’t buy the house to put it in.
Missed Payments
Make all your standard monthly payments on time. Just before closing is not the time to be forgetful about that credit
