This is why approvals fall apart last minute. Many buyers assume that getting an initial approval means their financing is completely safe until closing day. But lenders routinely re-verify your financial situation right before they advance the money for your home purchase. This means
- Changing jobs or shifting your employment status can trigger a sudden loan denial.
- Taking out new financing for a car or furniture alters your debt ratios.
- Spending your down payment savings on other expenses will void your contract.
If you want to ensure your file stays safe until closing, I can guide you through the process.