CT Real Estate Barbara Altieri : 5 Absolute Do Not's When Purchasing A House

CT real estate REALTOR Barbara Altieri shares market and general information on towns in Fairfield County and New Haven County.

5 Absolute Do Not's When Purchasing A House

Both real estate agents and lenders alike warn buyers who are in the process of applying for a mortgage that they should NOT do certain things if they want to ensure a successful closing on their loan.  George Souto of McCue Mortgage lays out the 5 ABSOLUTE DO NOTS below. Even if you are not in the process yet, read the list carefully, and be educated and proactive.  It will pay off in the end.


As much as we blog about what not to do when purchasing a home, and as much as we warn and advice Borrower when they are applying for a mortgage on what not to do until they have Closed on their loan.  Guess what, they still do it.  There are several things that a Borrower/Buyer should not do while they are in the process of purchasing a house, But there are 5 Absolute Do Not's When Purchasing A House.  The 5 Absolute Do Not's When Purchasing A House below are so important that anyone one of them can easily bring a Loan Approval and Closing to a screeching halt.  The 5 Absolute Do Not's When Purchasing A House are:

  • DO NOT go out and buy a new car, or furniture or ANY other large purchase.  The new payment could disqualify you from being able to qualify for the mortgage.
  • DO NOT stop making payments on your bills such as credit cards, student loans, car payments, rent, utilities, etc. 
  • DO NOT apply for new credit cards while your mortgage is being approved.  This could lower your credit score, and if your credit is checked again before the Closing you may no longer qualify.
  • DO NOT make large deposits or withdrawals that you can not document.
  • DO NOT quit your job, even if it is for a better one.  A change in jobs will mean that you will have to produce 30 days worth of paystubs for the new job, and this could delay your Closing.

As I stated above, there are other Do Not's, but these are the BIG Do Not's, these are the 5 Absolute Do Not's When Purchasing A House.  These can not be said enough, or blogged enough about.  When a Borrower/Buyer is in the process of purchasing a house, they almost need to hear these 5 Absolute Do Not's When Purchasing A House on a daily bases.

I don't want to close this blog on a negative, so I am going to end it with one BIG "Do".  When purchasing a home, if there is ANY doubt on whether to do something or not, CALL  your Loan Originator and ASK.  The few minutes that it takes to make a quick simple phone call, could save hours of delays and problems later on, or worst, the mortgage being denied.



 Info about the author:

George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com



Barbara Altieri, REALTOR®
Listing and Buyer's Agent
Certified Short Sales Specialist
RealtyQuest Real Estate Sales and Services Team

Kinard Realty Group
30 Huntington Street, Shelton CT 06484
Office -- 203.929.1752
Cell -- 203.520.6930
Email -- barbara.altieri@realtyquest.com



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Comment balloon 2 commentsBarbara Altieri • May 15 2013 08:19AM


These are 5 great Do Not's!  One of the common that I've seen are the buyers who go out and buy cars or refrigerators or washers and dryers just weeks before the closing.  Depending upon someone's credit score, these actions can cause them to beccome no longer qualified to purchase, especially if their scores are on the border.  Good Luck!

Posted by Anthony Rollins, The Adam Butler Team (Keller Williams Realty-Overland Park) about 6 years ago

Barbara thank you for the re-blog.  Glad that you found this blog worthy of doing that, and hope that it comes in handy with you Buyers in the future.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) about 6 years ago

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