Countless home-buyers have been pre-approved and put in an offer only to make a mistake that prevents them from closing.If you’re in the process of buying a home, there are certain things you should do, and things you should not do…
Learn from previous home-buyers’ mistakes!
Avoid doing these few things before buying a home:
Don’t buy a car
Now is not the time to upgrade the family vehicle. Buying a car will make it harder for you to have a qualifying debt-to-income ratio.
Don’t pay bills late
It’s easy to get caught up in house-hunting, but don’t let your bills slide. You may have been pre-approved, but if you let the bills pile up your credit score can dip and you’ll no longer qualify for the mortgage.
Don’t open or close any lines of credit
No matter how tempting those credit card offers you receive in the mail might be, wait until you close on your home before applying. Likewise, if you have a credit card you never use, cut it up if you must, but avoid canceling it.
Don’t buy things on credit
Wait to purchase furniture, appliances and other household goods on credit. Taking on any new debt will change the state of your credit and could jeopardize your home-buying process.
Don’t change jobs
Hate your 9 to 5 and want to open up your own cupcake shop? Wait until after closing. Changing jobs can make you look unstable to the lender and damage your chances of closing on your dream home.
Need help buying or selling a home in the Rockledge, Florida area? Contact Peri Kiros today. Peri can help with all your real estate needs!