Attention Home Buyers!Â If you have received your mortgage approval from your lender and are waiting for your "clear to close" don't make any of the common mistakes below that could jeopardize your mortgage approval.
Check them out:Â Â
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- Making a big purchase:Â Avoid making
major purchases, like buying a new car or furniture, until after you close on
the home. Big purchases could change your debt-to-income ratio that the
lender used to approve your home loan and could throw the approval into
- Opening new credit:Â Now isnâ€™t the
time to open up any new credit cards.Â Wait until after you are closed if you must.
- Missing any payments:Â Be extra vigilant
about paying all your bills on time, even if you're disputing one.Â
- Cashing out: Avoid any transfers of large sums of money
between your bank accounts or making any undocumented deposits â€” both of which
could send up â€œred flagsâ€ to your buyer's lender.