5 Things NOT to Do During the Closing Process (2024)

Keeping things consistant throughout the closing process will help ensure you have a predictable andstress-free closing experience. Here are 5 tips from our closing experts.

1. DO NOTCHANGE YOURMARITAL STATUS

How you hold titleis affected by yourmarital status. Besure to make bothyour lender and thetitle company awareof any changes inyour marital statusso that documentscan be preparedcorrectly.

2. DO NOTCHANGE JOBS

A job change mayresult in your loanbeing denied,particularly if youare taking a lower-payingpositionor moving intoa different field.Don’t think you’resafe becauseyou’ve receivedapproval earlier inthe process, as thelender may call youremployer to re-verifyyour employmentjust prior to fundingthe loan.

3. DO NOT SWITCH BANKSOR MOVEYOUR MONEYTO ANOTHERINSTITUTION

After the lenderhas verified yourfunds at one ormore institutions,the money shouldremain there untilneeded for thepurchase.

4. DO NOTPAY OFFEXISTINGACCOUNTSUNLESS YOURLENDERREQUESTS IT

If your Loan Officeradvises you to payoff certain bills inorder to qualify forthe loan, follow thatadvice. Otherwise,leave your accountsas they are until yourescrow closes.

5. DO NOTMAKE ANYLARGEPURCHASES

A major purchasethat requires awithdrawal from yourverified funds orincreases your debtcan result in your notqualifying for theloan. A lender maycheck your credit orre-verify funds at thelast minute, so avoidpurchases that couldimpact your loanapproval.