closed house

Avoiding closing day nightmares, such as a long delay or, worse, a canceled home sale, requires complete communication from the day a contract is signed until the house keys are exchanged. If you have to reset the paperwork and the settlement date, you could lose your lock on your loan’s interest rate or even the deal if the sellers have a kick-out clause and a backup buyer.

Key Takeaways:

  • National real estate statistics show that problems with home buyer financing account for 38% of all closing delays.
  • Any changes to your credit profile, your employment or your financial standing can cause your lender to hit the brakes on your mortgage funding.
  • A sudden rise or drop in your savings account balance can trigger questions. A new job can derail the deal, even if your new position pays a better salary.

“Any changes to your credit profile, your employment or your financial standing can cause your lender to hit the brakes on your mortgage funding.”

http://naeba.org/blog/how-home-buyers-can-help-prevent-closing-delays

Alliance Credit Counseling

15720 Brixham Hill Avenue Suite 575
Charlotte, NC 28277
(888-995-7856) / (704-341-1010)