Spend money carefully prior to closing
Your mortgage pre-approval was granted to you based on the amount of money you had at the time of the pre-approval in your savings accounts, checking accounts, retirement accounts, etc. and was based on the amount of debt you had at the time (car payments, student loans, your current mortgage if you already own a home, etc).
If you buy a TV, a new car, new furniture, etc. between now and closing, it jeopardize your chances of being approved for your mortgage loan, as the lender pulls your credit and verifies money on deposit the day before closing.
Therefore, it is imperative you spend as little money as possible between now and your closing date. In addition, continue to pay all of your monthly bills on time, do not open or close any credit cards, don’t take extravagant vacations, etc. Many buyers think it won’t make a difference if they buy a couch, new TV, etc. and charge it to their credit card, but it very well could mean the difference in whether or not you qualify for your loan. So please do not buy ANYTHING big until after closing. Then go wild!
If in doubt whether a potential purchase will affect your ability to obtain a mortgage, please speak with your mortgage lender before buying.
Questions? Call or text me at 405-585-6580 or email Steve@SoldonShawnee.com.