You finally found the home of your dreams, Hooray!!!  After inspections and appraisals, here are five (5) things you should not do during the closing process.

1.  Change your marital status.  How you hold title is affected by your marital status.  Be sure to make both the lender and the title company aware of any changes in your marital status so that documents can be prepared correctly.  Should you get married during the process be sure to bring documentation to settlement.

2. Switch banks or move your money to another institution.  After the lender has verified your funds at one or more institutions, the money should remain there until needed for the purchase.   

3. Changing Jobs.  A job change may result in your loan being denied, particularly if you are taking a lower paid job or moving into a new field. Don't think you are safe because you received approval earlier in the process, as the lender may call your employer to re-verify your employment just prior to funding your loan.

4. Paying off existing accounts.  Unless your lender request it, don't do it. If your loan officer advises you to pay off certain bills in order to qualify for the loan, then follow their advice. Otherwise leave your accounts as they are until escrow closes.

5.  Do not make large purchases.  This is very common and should be avoided.  Yes you may want that large screen TV for the new house but any major purchase requires a withdrawal from your verified funds or increases your debt on your credit cards.  Large purchases can result in you not qualifying for a loan.  As you get closer to settlement the lender may check your credit or re-verity funds at the last minute.  

Getting to closing table can be very exciting and sometimes emotional.  Be sure to avoid these five things and your closing process should be a very smooth process!

Know someone looking to buy a home, as always, I ready to help!  Call me at (801) 628-1116.