{"id":5705,"date":"2025-09-23T18:04:55","date_gmt":"2025-09-23T18:04:55","guid":{"rendered":"https:\/\/cityviewmortgage.com\/?page_id=5705"},"modified":"2025-09-23T18:11:30","modified_gmt":"2025-09-23T18:11:30","slug":"buyer-donts","status":"publish","type":"page","link":"https:\/\/cityviewmortgage.com\/?page_id=5705","title":{"rendered":"Buyer Don’ts"},"content":{"rendered":"
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Don’t Trip Yourself up While Buying a Home<\/h2>\n <\/div>\n <\/div>\n
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What’s more fun than getting a bunch of new furniture to go in your future home? Not much. But making big ticket purchases before your loan closes could be trouble. There are still a few major hurdles to jump before the house is really\n yours. We have listed some things below we suggest you avoid when waiting for closing.<\/p>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n

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Don’t make expensive purchases<\/h5>\n <\/div>\n <\/div>\n
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Although you will be planning ways to turn your new house into a castle, try to stay away from major purchases like appliances, electronics, or expensive furnishings. You will also want to stay away from vacations and vehicle\n purchases until the closing of your loan. Your lender may send up red flags if you buy new furniture on your credit cards in the middle of your loan process. Using cash to buy expensive items can even be a bad idea: many\n lending institutions look at your available cash when approving your mortgage.<\/p>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n

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Don’t get a new job<\/h5>\n <\/div>\n <\/div>\n
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Lending Institutions look for a consistent career history on your application. Getting a new job may not affect your ability to qualify<\/em> for a mortgage loan – especially if you are improving your salary. However,\n switching careers during<\/em> your loan process could influence whether or not you are approved.<\/p>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n

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Don’t take your accounts to a new bank or move around your finances<\/h5>\n <\/div>\n <\/div>\n
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Bank statements from the last two or three months for all of your accounts (savings, checking, money market, and others) will likely be analyzed as the lender considers your loan application. In order to eliminate fraud,\n lenders look for a clear and consistent picture of how you earn your living and where additional money comes from. No matter the reason, changing banks or moving money from one account to another may raise a red flag with\n the lender and slow down your application process.<\/p>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n

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Don’t give your FSBO (for sale by owner) seller earnest money, cash in hand<\/h5>\n <\/div>\n <\/div>\n
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Until the completion of the deal, any good faith money actually belongs to you. Although some individual sellers might not understand this, any good faith funds should be used for the buyer’s closing expenses. A neutral party,\n like an attorney can hang onto your deposit, or you may put it temporarily into a trust account until closing. The disposition of good faith money, in the case of a failed transaction, should be specified in the purchase\n agreement with your seller.<\/p>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

Don’t Trip Yourself up While Buying a Home What’s more fun than getting a bunch of new furniture to go in your future home? Not much. But making big ticket purchases before your loan closes could be trouble. There are still a few major hurdles to jump before the house is really yours. We have […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width-page.php","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-5705","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/cityviewmortgage.com\/index.php?rest_route=\/wp\/v2\/pages\/5705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cityviewmortgage.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/cityviewmortgage.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/cityviewmortgage.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cityviewmortgage.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5705"}],"version-history":[{"count":2,"href":"https:\/\/cityviewmortgage.com\/index.php?rest_route=\/wp\/v2\/pages\/5705\/revisions"}],"predecessor-version":[{"id":5710,"href":"https:\/\/cityviewmortgage.com\/index.php?rest_route=\/wp\/v2\/pages\/5705\/revisions\/5710"}],"wp:attachment":[{"href":"https:\/\/cityviewmortgage.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}