How to Avoid Fireworks Before Your Closing

Mortgage and Lending with American Financial Network NMLS #196099

In the spirit of the 4th I am sharing how to avoid fireworks before your home purchase in Virginia or Maryland. 



Buying a home has become an exciting yet stressful time when using mortgage financing.  FHA loans, VA loans, and Conventional loans all have different guidelines to follow, but here are the things to do to avoid the fireworks before closing:


  1. Do not transfer or deposit large sums of money into your bank account without being able to source the funds.
  2.  Do not send what you think will suffice for loan approval conditions.  For instance, if you are receiving a gift and it requires a copy of the donor's cancelled check don't send the copy of the check from your bank instead.
  3. Do not max out or charge new purchases for the home on your credit card until after closing.  Many lenders repull credit right before closing and using revolving accounts (credit cards) too much can severly hurt your credit score.


I know you want to furnish your new home, but please wait until after the closing.

 Buying a home in Woodbridge, VA does not have to be stressful as long as you play by the rules.  Contact your Woodbridge Mortgage Lender for a free consultation and learn how to avoid fireworks before closing. 


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Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

Very good advice!  I had a buyer quit his job a week before closing was supposed to happen.  Guess who didn't close??      

Jul 06, 2012 09:21 PM #1
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Markita-good advice for anyone who is getting a loan.  Don't start buying new things for your home until you have closed!

Jul 06, 2012 09:34 PM #2
Vanessa Saunders
Global Property Systems Real Estate - White Plains, NY
From Manhattan to the Catskills of New York

Yes, that final credit re-check can be a very tricky thing.

Jul 06, 2012 11:23 PM #3
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Bears repeating over and over as this is still happening frequently. I just worked on one several months ago that fizzled

Jul 06, 2012 11:26 PM #4
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Markita, good points for anyone getting ready to close. Loan approval doesn't mean to start spending.

Jul 06, 2012 11:31 PM #5
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

And this is exactly why we rely almost exclusively on title companies.  Stay out of the banking business and stick with what you do best which is, real estate.

Jul 06, 2012 11:53 PM #6
David Perry
Wainwright Real Estate - Portsmouth, VA
Marktia, great advice! No matter how many times buyers hear this advice it is still worth repeating again.
Jul 07, 2012 12:03 AM #7
David Krichmar - Legend Lending - Sugar Land, TX

Great advice and important info to remember. 

Jul 07, 2012 12:08 AM #8
Wendy Timmons
Move Home Realty - Temecula, CA
Temecula Realtor
Great advice! I provide a list of things to remember just in case their lender doesn't ;))
Jul 07, 2012 12:59 AM #9
Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

4. DO NOT BUY A FREAKING CAR BEFORE CLOSING. SAY IT WITH ME NEW HOME BUYERS: DO NOT BUY A FREAKING CAR BEFORE CLOSING. Sorry this just happened to one of my clients former clients three days ago. That's all. Oh congratulations Sis on the Featured blog. Have a great weekend. 

Jul 07, 2012 01:25 AM #10
Adrian Willanger
206 909-7536 - Seattle, WA
Profit from my two decades of experience

Markita, lots of small land mines that could delays in closing, thanks for the list, its been a while since I've had to think about paper trails. Thanks for the reminders. 

Jul 07, 2012 02:44 AM #11
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Markita:  Who of us hasn't suffered through the stress of antsy, over-zealous buyers?  I get it ... and that they want to be prepared and outfit their new home.  But they need to wait.  I always tell them to not even sneeze without asking me first.   There's always that one that doesn't listen and then pays the price ...

Hopefully your readers follow your sound advice ...


PS:  Hope you had a great 4th!

Jul 07, 2012 05:09 AM #12
Barbara Hensley
RE/MAX Properties - Rockwall, TX
Homes for Sale in Rockwall County, Texas

Markita - good solid advise!  Congratulations on the feature and gold star!  Enjoy the weekend.

Jul 07, 2012 06:16 AM #13
Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Northwest Tennessee Realtor

Markita, these are all mistakes that our clients make and become unable to purchase. I try to counsel my clients not to do many of these things but sometimes they do not listen.

Jul 07, 2012 11:02 AM #14
Kevin Mackessy
Blue Olive Properties, LLC - Highlands Ranch, CO
Dedicated. Qualified. Local.
Great information everyone should reference.
Jul 07, 2012 02:41 PM #15
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Markita, nice way of tieing up sound advice with 4th July fireworks....

Love the tips to the buyers....

Jul 07, 2012 03:11 PM #16
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
Thanks for sharing these great tips. I love the title to your post.
Jul 07, 2012 09:04 PM #18
Justin Dibbs
Pearson Smith Realty - Ashburn, VA
REALTOR® - Ashburn Virginia Homes for Sale

I just had a friend buy a car 2 weeks before their refi closed AFTER I told them not to do it.  Guess what happened?

Jul 08, 2012 03:11 AM #19
Brian Dela Cruz - San Francisco, CA

Excellent article with a catchy title.

Jul 13, 2012 11:44 PM #20
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Markita -- timely advice for homebuyers especially first time homebuyers who often feel the need to quickly furnish their new home before they have closed the transaction.  Yikes!   

Aug 21, 2012 12:03 AM #21
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Markita Woods NMLS#196099

Queen of Mortgages - FHA, VA, Conventional, USDA
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