A new home is a massive investment. But it’s not all yours until the closing process commences. Keeping things consistent throughout the closing process will continue to help your chances of securing the home of your dreams. Here are the essential tips to ensure you finally get the home you’ve been dreaming of.
Avoid Changing Your Marital Status
When it comes to holding the title to your home, it is always affected by your marital status. It’s essential that you make both your lender and title company aware of any potential changes in your marital status so that all the documents will be appropriately prepared on your new status’ behalf.
Avoid Changing Jobs
A different job means a change in your title. A job change could have the potential in your loan being denied, especially if you are taking a significantly lower-paying position or potentially moving into a different field. However, don’t think you are totally in the clear just because you’ve received approval earlier in the home buying process. It just so happens that the lender has the opportunity to call your employer to re-verify your employment just before funding the loan on your behalf.
Avoid Switching Banks Or Moving Moving To Different Institutions
One of the biggest takeaways is to avoid making the lender wary of your money habits. In fact, after the lender has ultimately verified your funds at one or more institutions, that money should remain there until, at long last, your home can be purchased.
Avoid Making Large Purchases
A home is already a big purchase. In fact, a major purchase beyond your home that requires a withdrawal from your verified funds or has the potential to increase your debt can ultimately result in your not qualifying for your home loan. In fact, the lender may check your credit or re-verify the funds at the last minute.
A Title Company You Can Trust: Colony Title
At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, and LinkedIn.