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I love the excitement that a home buyer has once they hear that their offer to purchase has been accepted by the seller.  One of the areas that we talk about before they write an offer on a home is what happens during that “in between” time.  As a buyers agent in Macomb County I take my time in educating my buyer clients as much as possible about the whole process of home buying and that includes the “in between” time.

If my buyers are purchasing a home with a new mortgage one of the most important things we’ve talked about what to do and not to do during the mortgage processing.

1. Don’t change jobs unless you have talked with your mortgage lender about a potential job change.
2. Do keep adding to your savings account.
3. Don’t purchase anything except your bare living necessities.  (Don’t even apply for something like a 90 days same as cash furniture purchase.  It does hit your credit report and can have a negative impact.)
4. Do continue to save every new paystub and bank statement.

The best rule of thumb is to think of the day that you applied for your mortgage as a snapshot of your financial status.  Keep that snapshot exactly the same throughout the purchase process.  Don’t change a thing unless you have talked with your mortgage lender beforehand.

If you follow these simple rules during your “in between” time you should have smooth sailing to the closing on your new home!

~Kris Wales~  A partner for your real estate needs in Macomb County MI
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