mortgage closing
Five Things Not to Do Before Closing
Learn which financial changes to discuss with AMS before closing, why lenders may recheck information, and how to protect your closing funds and document trail.
What you’ll learn
- Speak with AMS before taking on a new car payment or other debt.
- Discuss new credit applications and employment changes before acting.
- Keep records when moving large sums and protect your closing funds.
- Report material changes to employment, income, debt or down-payment sources promptly.
- Unexpected changes can delay or affect mortgage funding.
Transcript
Your lender has approved the mortgage, but your finances should stay consistent until closing.
Don't take on a new car payment or other debt without speaking to AMS.
Avoid applying for new credit cards, changing jobs without discussion, moving large sums without records or making major purchases that use your closing funds.
Tell us promptly if anything material changes, including employment, income, debt or down-payment sources.
The lender may recheck information, and unexpected changes can delay or affect funding. When in doubt, ask before you act.
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General education only. Lender requirements and mortgage terms vary; this is not an approval, rate offer or guarantee. Contact AMS for advice about your circumstances.
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