You found the house of your dreams, and you need a loan to finance it. Please avoid doing the following things during the qualification process and before the closing. Otherwise , your loan may be compromised :

  • Pay off all your credits, because it will drop your score
  • Open a new line of credit in a store. Each time you do that, your credit score is affected. On the other hand, you need to have a credit card, so if you don’t, get one, charge a few affordable purchases each month and wait until the end of the month to be your debt in full. It’s better to do like that, rather than doing payments in advance. But don’t make any late payment, to avoid the interest backslash.
  • Do big purchases, like new car,  or buy your future furniture in advance. Not only it will appear in your bank statement and the lender will need to work again on the qualification process, but imagine if something goes wrong with the closing and you’re not able to move into that house…
  • Put big amounts of cash money without documenting those deposits (gifts letter if you receive money from family) and don’t forget that if it’s a government loan, the person who helps you financially needs to give their bank statement too
  • Change job.

About the author


Sales associate

Having worked on 3 continents : Europe, Asia and America, with a marketing and real estate background (diploma of expertise in real estate in France and own brokerage agency near Paris), I want to put the skills I acquired during my previous career to the benefit of people, who are looking to buy and sell in St Augustine area. I love this region, where a part of my family moved there 15 years ago. Fluent in French, certified Leading RE relocation specialist, I know by experience, how stressful it can be, when you're looking to buy or sell a house, especially if you don't know the area. I commit myself to provide to the customers who will contact me, an excellent level of service, honesty, availability and to assist them throughout the whole process of buying and/or selling, making it smooth and enjoyable. My goal is to advise wisely sellers and buyers and create happiness in every transaction I do.

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