Don't Let Credit Checks Derail Buyers
It happens ever so often we hear of Buyer's loan on their new home not closing because the new home owner to be purchased a new truck or a family vehicle while going through the home buying process and the lender will not be able to close and fund the loan. The buyer's debt to income ratio will be impacted by his purchase during the loan qualifying process. This will cause the loan not to be able to complete the loan approval by the lender. The lender will delay or cancel loan approval. A word of caution, if you are in the process of getting a home loan approval and buying a home, please put off your purchases until you have closed the escrow on your new home.
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