Hey homebuyers…we are talking to you today. If you are in the process of buying a home or even thinking about buying a home, this is probably one of the biggest mistakes that potential homebuyers make.
While you’re in the process of buying a home, you don’t want to go out and buy anything big or take out new credit. For example, don’t go buy a new car. Don’t go buy that refrigerator, or washer-dryer, and furniture. You don’t want to do any of that while you’re trying to buy a house because the lender has approved you according to the credit before you went under contract.
They approved you on the credit that you had at the time and the payments that you making at that time. So when you change that, the lender goes, “Hmm, we might have a problem here.”
So buyers don’t do that! Do not take out any new credit! Don’t buy any big stuff!
Wait until after you closed and then do it!