Financial Do's and Don'ts When Buying A Home

Financial Do's And Don'ts

Even after you’re pre-approved for a mortgage, changes in your financial profile can affect your final approval at closing. Here are a few suggestions for how to remain financially stable throughout the process

 

Financial Do'sFinancial Do's

  • Pay all loans, credit cards and other bills on time to ensure that your credit score doesn’t dip
  • Continue your normal work schedule and do not take any unplanned time off
  • Be prepared to explain any large deposits into any of your bank accounts
  • Continue to use your credit as you normally would, within reason

 

 

Financial Don'tsFinancial Don'ts

  • Make any major purchases on credit in the months leading up to applying for a mortgage
  • Change or quit your job, or switch to being self-employed while applying for a mortgage
  • Change financial institutions; You’ll want to show a stable banking history
  • Co-sign a loan or be a credit co-applicant for anyone prior to applying for a mortgage

 


Contact Us

If you’d like more information about financial DO’s and DON’Ts between pre-approval and closing, we’d be happy to assist you.

8300 College Blvd., Suite #130 Overland Park, KS 66210

913-661-8500

 

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