Maybe you’ve experienced this before, or maybe you haven’t, but the closer you get to closing on a home, the more your excitement builds. Because of that, every second until you take your first step into your new home can feel like an eternity.
To our fellow go-getters, we empathize with this problem. Check out our simple guidelines that can help you take charge of the situation and ensure your home closing goes as smoothly as possible.
The Do’s
- Set and stick to a realistic budget
- Have all your required documentation in place
- Prepare to verify your income and assets
- Communicate if your down payment is a gift
- Continue to pay all your bills on time
- Make sure that your earnest money check comes from funds withdrawn under your own bank account
- Start shopping for homeowner’s insurance
- Communicate with your loan officer
The Don’ts
- Change jobs, quit your job, or become self-employed
- Buy or trade in a vehicle
- Increase debt/balances or miss payments
- Spend money you have set aside
- Omit debts or liabilities from your loan application
- Make large purchases (ex., buying new furniture or appliances)
- Acquire new loans, credit cards, or lines of credit
- Change bank accounts
- Co-sign any loan
- Use cash for your down payment or earnest money
- Wire closing funds (until you have more information from your mortgage provider)
While these guidelines are a good start, they’re not absolute. For more on what you can (and shouldn’t) do in the lead-up to closing on your home, don’t forget your loan officer is there to help – they can answer any questions you have on the do’s and don’ts of homebuying.
Our friends at Atlantic Coast Mortgage will help you navigate and understand the lending process and the loan opportunities available specifically to you and your situation. Still have questions? Contact an ACM loan officer today and start your buying journey in the right direction.
