Don’t Do This if You’re Trying to Close!

Don’t Do This if You’re Trying to Close!

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Looking at purchasing a home? Here are simple straightforward things to avoid.

Purchasing a home is more than signing a big stack of papers and getting a new set of keys. There are many parties involved to make this transaction happen. As the home closing company, we see various scenarios daily that can make the process difficult or maybe even in some cases fall through.  Some of you may have heard that you need to “sit in your house with the lights off before you close or you won’t get your money”. There’s no need to be that extreme, but it is necessary to take the proper precautions to insure you still qualify to get the money you need to buy your dream home.

 

So here’s our two cents to keep you from sitting in the dark:

  1. Don’t change your job.

If you change your job while in underwriting for your loan it could pose as a problem with your lender. Job consistency is a factor the lending underwriter takes into consideration when processing your possible loan.

 

  1. Don’t change your marital status.

The marital status can affect the title to your home as well as the loan product for which you are approved. It is important to tell both your lender and title company ahead of time if you are anticipating a change in marital status during your home closing time line.

 

  1. Don’t buy a car.

Making any type of large purchase during your home-buying journey can be a major “no-go”. The purchase could very likely cause your credit score to dip causing you to no longer qualify for the loan you need to purchase your dream home.

P.S.

This also applies to major furniture purchases. Let’s just wait and make those purchases AFTER your closing. 😊

 

 (Get ready for the legal jargon here) #Lawyered

Disclaimer: These scenarios are just some, but not all of the situations we see daily as your friendly local title company in good ole Lake Charles.

 

If you are ever in doubt if the action you’re taking is “okay” to make as you’re in the closing process, feel free to call to your local real estate agent, a local lender, or us here at Ironclad Title 433-0234.

#YouDeserveAGoodDeed