It’s tempting to begin making your new house a home or spend your new savings to fix your existing home – but don’t. While you wait to close on your home loan, it’s important to keep your finances stable.
Here’s a few do’s and don’ts to help make your home buying journey as smooth and stress-free as possible.
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- DO continue to make your mortgage payment on time, as well as any other obligations.
- DO report any changes in your employment or income to us as soon as possible.
- DON’T make any large purchases.
- DON’T increase the use of your available credit balances.
- DON’T apply for new credit accounts – even the ones that offer you a 0% introductory period!
It’s key to notify your Mortgage Loan Processor if you wish to make any changes to your finances or obligations. Any unexpected or unreported changes to this info could jeopardize your loan and closing.
Your loan processor is responsible for assembling, administering and processing your loan – so keep in contact with them for any information or documentation requests and loan status updates.
The Merrimack’s Home Lending Team is here to help every step of the way! Whether you’re looking to buy, build or refinance, we’re able to offer programs that best fit for your needs.