From the time you decide to buy or refinance until your loan closes and funds, don’t buy anything you don’t have to have. It used to be that your credit report would be run again the day before you close. Now it’s run between closing and funding. On a refinance in Texas on your primary residence, funding does not occur until 4 and sometimes 5 days after your closing. If your debt ratio or your monthly payment obligation has increased it not only could delay, but may actually de-rail your loan funding.

Purchasing new things for your home, a new car, or anything else that adds to your monthly debt obligation could disqualify you for the loan you’ve just signed papers on.

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