Buying a house? Don’t screw it up.

    money houseYou’d be surprised at how many home loans go south due to issues that could have been avoided. 

    If buying a home is on your radar, if you’ve already been approved to go house shopping, or, if you’re currently in escrow on a home, please don’t screw it up. No one wants to tell you that you no longer qualify for a loan and you can’t actually buy a home, or that you can’t move forward on the home you made an offer on and now can’t afford.

    Here are 5 ways you can potentially mess up your financing:

    1. Making BIG purchases:  Trust us, until you get the keys for your new home, you don’t need a new car, boat, RV, or even new furniture for the new place. Anything that will impact your credit (or debt-to-income ratio) should be avoided until after closing.

    2. Applying for credit cards:  Sure, you could save 10% of your total purchase, but is that worth it if you end up with no financing for the new place? Of course not! Now is not the time to open up any new credit cards. If you really have to have some new plastic in your wallet, just wait until after closing on your new home.

    3. Missing, or being late on current payments:  Seems obvious, but this is a crucial time to make sure you don’t miss a payment on any of your current bills! And make sure you pay them on time, too.

    4. Fishy bank transactions:  Your lender’s going to be watching your finances like a hawk to make sure you qualify for your home loan. (Remember, you first get approved at the start of your home buying journey, then the lender will re-visit your financial situation just before you close on the property to make sure you still qualify for the loan.) You don’t want any undocumented deposits, transfers of large sums of money between accounts, or anything that may be viewed as ‘suspicious’ to your lender.

    5. Changing careers:  Any changes to your financial situation could severely impact your ability to qualify for a loan. If you really must change careers, wait until you’re in the new place! Or, perhaps get a second job for some extra cash?

    : : : : :


    Of course, things happen in life that may be out of your control, but, if you qualify for a home loan (or are about to start the pre-qualification process), keep your finances in order and your credit ‘blemish free’ as best you can.

    It’ll all be worth it when you have the keys to your new home!

    Additional Resources:


    Trackback from your site.

    Leave a Reply

    About our blog

    We provide up to date information on the Bend, OR real estate market!

    Find Us On Social Media!



    Super cool real estate office in Bend. Has that laid back vibe and atmosphere going on and every agent I met there was extremely helpful, attentive, and hardworking. They really seem to go above and beyond for their clients. Fred Real Estate is literally the only brokerage in Bend that I would ever consider working with after having such a wonderful and positive experience working with them. It’s also nice that they treated me like a valued customer and person despite the fact that I was looking…
    Sara Magas