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Right and Wrong Actions After Mortgage Approval- And Little Pointers That Will Ensure Funding
Some mortgage lenders are checking credit scores prior to funding especially if closing occurs a long time after the initial mortgage offer. What can you do to ensure there are no problems?
- Pay all bills even if there are disputes.
- Do not apply or open up any new credit card accounts.
- Do not transfer large amounts of money between accounts.
- Do not make any unusual deposits., especially if it is a large amount of cash.
- Do not buy a new car or take on a more expensive lease.
- Do not change jobs or worse quit your job.
- Do not make any large purchases on a “buy now pay later” scheme.
Any of the above actions can raise a red flag on a credit report. Even more so if the initial credit score was “just” ok to start with.
Obviously in real life some actions are unavoidable. If you think your credit score may be affected talk to your mortgage broker or lender beforehand.

Andrew Mckay








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