How to Keep Mortgage Financing from Falling Through

Even if you get approval for your mortgage, it is important to realize that the financing could still fall through before closing. Realize that even after mortgage approval, you still need to take steps to protect your financing.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Self discipline

1. Get supporting documents in a timely manner. Sometimes more documentation will be needed even after mortgage approval. Make sure you get the documentation to your loan officer as soon as possible.

2. Don’t use your credit cards. Some people run up a credit card balance after the mortgage approval goes through. Some lenders check your credit again, and seeing large charges may cause them to cancel your financing.

3. Don’t apply for more credit. Credit inquiries for a car loan or other consumer loan could show up if your lender checks your credit report again. This could make you look like a bigger risk.

Tips & Warnings

• Do with less from the time your mortgage approval goes through until you actually close.