In the lending process, there are many financial decisions that borrowers need to make. Does the home need new appliances? Do we have furniture? Do I need a new truck to help me move? While the answers are varied, the choice to act on them should be the same; Do not make ANY large purchases in the midst of a Real Estate transaction. Changes to your credit scores or debt to income ratios can jeopardize your ability to purchase the home at all. And a new washer and dryer won’t work very well if you are living in the new truck!
Here is a link to a great article by trusted Mortgage Professional, Ted Rood. Lighthearted, but entirely to the point.
Special TRID edition of Borrower Do’s and Don’ts
