# 1 – Change your Marital Status:
How you hold title is affected by your marital status. Be sure to make both your Realtor, Lender and Title Company aware of any changes in your marital status so that the documents can be prepared correctly.
# 2 – Change Jobs:
A job change may result in your loan being denied, particularly if you are taking a lower-paying position or moving into a different field. Don’t think you’re safe because you’ve received approval earlier in the process as your Lender may call your employer to re-verify your employment just prior to funding the loan.
# 3 – Switch Banks or move your money to another institution:
After the Lender has verified your funds at one or more institutions, the money should remain there until needed for the purchase.
# 4 – Pay off existing accounts unless your lender requests it:
If your Loan Officer advises you to pay off certain bills in order to qualify for the loan, follow that advice. Otherwise, leave your accounts as they are until your escrow closes.
# 5 – Make any large purchases:
A major purchase that requires a withdrawal from your verified funds or increases your debt can result in your not qualifing for the loan. A lender may check your credit or re-verify funds at the last minute, so avoid purchases that could impact your loan approval.