Will a Mortgage lender check your credit after "Clear to close?" The answer is YES.
Did you know that even after receiving a "Clear to Close" from your mortgage lender, your financial status isn't completely off the hook just yet? 🚨
Lenders often do a final credit check right before closing to ensure that your financial situation remains steady. A significant change in your credit status (like a big purchase or a new debt) could throw a wrench in your plans. This is why we always tell our clients don't go out and buy new furniture until AFTER you have closed on your new house.
I had a situation like this happen in 2021 (I represented the seller) where we had the happen. But the good thing was four months later, that the loan officer was able to close that loan.(I have to reach out to that loan officer by the way)
So, here's a pro-tip: Try to keep your financial status as stable as possible from the time of loan application to the closing. Avoid big purchases or adding new debt. It's just a little patience for a smooth closing! 🏡💰
Here are some of my other real estate blogs to read
Sell Your Bowie MD zip code 20721 House Fast for Top Dollars & Ease
The Home buying or Selling Decison in the DMV
What are the biggest challenges facing Homebuyers today? And the solutions
Is now the best time to sell a house?
Can a loan fall through after "Clear to Close"?
#HomeBuyingTips #RealEstateAdvice #dmvloanofficer #ClearToClose #MortgageTips #dmvrealtor #Dontbuyfurniturebeforeyoucloseonyourhouse
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