5 Things I Don't Want My Buyers Doing Before Closing

Once you're pre-approved and under contract, protecting your financial profile becomes extremely important.

So before closing on your home, I generally don't want you to:

1. Open new credit accounts or finance large purchases without discussing them with your lender.
2. Buy or lease a new vehicle without talking to your lender first.
3. Run up your credit-card balances.
4. Close established credit accounts without understanding the potential impact.
5. Make unexplained large financial moves or changes without communicating with your mortgage professional.

There's a simple rule I like buyers to follow:

If you're not sure whether a financial decision could affect your mortgage, ask before you do it—not afterward.

You Don't Need Perfect Credit to Start the Conversation

One of the biggest mistakes potential homebuyers make is assuming:

"My credit isn't good enough, so there's no point talking to anyone yet."

Don't automatically make that decision yourself.

Different mortgage programs can have different requirements, and credit is only one component of the overall qualification process.

Maybe you're ready now.

Maybe you're three months away.

Maybe you're six or twelve months away.

That's okay.

What matters is knowing where you stand and having a plan to get where you want to go.

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Related Reading

• 5 of the Most Effective Ways to Boost Your Credit Score Before Buying a Home
• 5 Most Common Mistakes Homebuyers Make — and How to Avoid Them
• The Ultimate Guide to the Home Buying Process: 15 Steps to Your Dream Home
• The 5 Most Important Steps to Follow When Buying a Home