Another Closing day surprises that you are not going to want to miss!


Credit challenges! 


Even though you approved for a mortgage a month or so in advanced before you close on your home, a small change in your financial picture can affect your credit score and create major problems up to the moment you close. 


Changing jobs, applying for credit cards, falling behind on your bills can red flag your deal! 


How bad can credit challenges be? 


Pretty bad! 


If a lender withdraws the offer, you won’t be able to close until you secure another mortgage, which can take weeks.  If the lender wants to increase your interest rates, which usually happens in this type of situation, then you will have to decide whether you can still afford to buy or not. 


To make sure this is not an issue contact your lender before you close to discuss and solve any issues that may have turned up. 


Always avoid making any sudden financial moves in the weeks leading up to the close. Things like quitting your job, finding a new job that pays more, or buying new furniture and appliances on your credit card. This can throw a huge monkey wrench into the process, so always wait after you close to make these types of decisions.       


Thanks for reading our post, here at Top Notch Properties we will always recommend you get with an Expert Real Estate Advisor when it comes to selling or purchasing real estate. Until next time, have an awesome week and make sure you check out our next blog post for more tips and tricks when it comes to all your real estate needs! 


The Ruse Bros!