Don't Swipe the CARD!

Soon-to-be homeowners, we want to alert you. If you're in the process of buying a home and eagerly awaiting your closing date, it's important to be cautious. Avoid using your credit card, refrain from purchasing a new vehicle or appliances, even if you have been pre-approved and are simply waiting for the closing. These credit-based transactions can impact not only your credit score but also your debt-to-income ratio. Typically, your mortgage lender will perform a final credit check, potentially on the day of closing, and if those ratios are outside the acceptable range, it may jeopardize your financing. The moral of the story is to ensure you maintain good credit and hold off on additional purchases until after the closing.