Save the BIG purchases for AFTER closing...


Most of us know that your credit score is a pretty important part of getting a mortgage approval and we work hard to keep it in good shape for the time it needs to look it's best for getting "approved"

However, most of us don't know that it's important to keep it in top shape even after we've been approved.

Once we have our approval there are typically conditions that need to be satisfied (appraisal might need to be done, employment verification and showing proof of downpayment for example) which can be done sometimes a couple of months in advance of the closing date.

But beware - your credit report can be reviewed once again in order to verify your credit history is the same as it was when you were first qualified for a mortgage.

So what happens if you made an offer on a home, got approved for financing, lifted all conditions, and then went out and bought new furniture for your home on a credit card? Well, you just might have some explaining to do.

If you increase the amount of money you are borrowing through any credit card or bank, miss payments on existing debt, or for any reason alter your credit history in a negative way, you run the risk of not being able to complete your purchase.

Play safe and speak to your broker right up until you have the keys in your hand... is here to help and make sure it all goes smoothly.