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Unlock a Seamless Home Closing: Avoid These Critical Mistakes

Starting on the journey to homeownership is thrilling, and as you approach the closing stage, it’s vital to navigate with care. The Garza Home Team at RE/MAX North San Antonio is your dedicated partner, committed to ensuring a smooth and successful home buying experience. Let’s delve deeper into the common mistakes to sidestep before reaching the closing day.

  1. Changing Careers: A sudden shift in your career path might be exciting, but it can introduce uncertainty to lenders. Financial stability is a key factor in mortgage approval, and major changes in employment could affect your eligibility. It’s advisable to delay significant career transitions until after the closing to maintain a stable financial profile.
  2. Opening New Credit Cards: The temptation of exclusive offers and discounts can be alluring, especially when you’re about to move into a new home. However, opening new credit cards can impact your credit score and alter your debt-to-income ratio. Lenders assess your financial stability based on these factors, so refrain from making any new credit card applications until after the closing.
  3. Purchasing a New Car: The excitement of homeownership might make you consider upgrading your vehicle, but hold off on purchasing a new car before closing. Buying a car introduces new debt, which can affect your debt-to-income ratio—a critical element in mortgage approval. Maintain financial prudence and postpone any significant purchases until after you’ve secured your new home.
  4. Making Large Cash Deposits: Transparency is key in real estate transactions, especially when it comes to your finances. Large, unexplained cash deposits into your accounts can raise concerns for lenders. To ensure a smooth closing process, avoid making substantial cash deposits without proper documentation. If you receive a monetary gift or need to deposit a significant amount, consult with your lender to ensure compliance with their requirements.

Navigating the complexities of the real estate journey demands careful consideration of these potential pitfalls. Trust the Garza Home Team to provide expert guidance and support as you navigate the intricate path to homeownership. Our commitment is to empower you with knowledge and ensure a seamless closing process.

Robert Joseph Ott

Sales Manager & Creative Director, REALTOR®

Jesse Rene Garza

REALTOR® MRP, PSA, NHC, CHMS, MSLG, HFR

#GarzaHomeTeam #RealEstateTips #HomeClosingMistakes #HomeownershipJourney #REMAXNorthSanAntonio

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⭐️⭐️⭐️⭐️⭐️ We just purchased our first home with the assistance of Jesse Garza. he made it painless and was always available when I needed answers. I would highly recommend Garza home team for a positive experience. He is quite knowledgeable about the San Antonio neighborhoods. Jesse and his wife Rosa are hardworking, professional and at best friendly. Thank you!
 
Mary D | San Antonio