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Things To Avoid After Your Offer Is Accepted in Olympia


So, you‚Äôre pre-approved for a home loan, and the offer you put in on the house has been accepted. All done thinking about finances right? Not quite. There are a few things that you should not do after your offer is accepted that will keep you on track with the financial side of the transaction. 

1. Buying All New Furniture

We know you already picked out the 12 piece sectional with the wall-mounted 64” 4d TV you want, but buying them before closing can affect the financing during the transaction.

2. Spending Your Savings

Your savings are going to come in handy later in transaction, around closing time. There are closing costs, fees, and other expenses that you might have to bring to the table at closing. Keep it in the bank.

3. Buy A New Car

What's a more important purchase, a car or a house? If you're wanting to live in that car, then by all means buy it. If you want the house for sure, wait on the new wheels.

4. Apply For A New Credit Card

Applying for a new credit card can reflect poorly on your credit report. Wait until after closing to open the new card or accounts. 

5. Don't Close Existing Credit Accounts

While you think it would make sense to pay off an account and then close the card to tidy up some debt, don't do it. This can look poorly on your credit score and affect financing during the transaction.

6. Move Money Without A Paper Trail

Your lender will be going through all of your transactions to make sure you'll be able to make payments on the new home. Moving money out of accounts without documentation is a red flag for lenders.

7. Get Behind On Payments

Just because your offer was accepted and you're pre-approved for financing doesn't mean that you should stop paying bills. Keep making on rent and bill payments on time during the deal.

8. Change Jobs

While a change in job scenery could mean better money for you in the long run, it's difficult for a lender to determine whether you'll be able to make payments for the home with little track record of employment at the new job. 


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Olympia WA 98502


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