These Overlooked Issues Can Become Deal-Killers For Your Mortgage Application

A mortgage loan approval is never final until it’s funded. And that means after you’ve signed the final paperwork and the bank has wired funds to escrow. Mortgages are made up of many moving parts, any of which might “go wrong” while your home loan is underway. Some are in your control, like deciding to purchase new items on credit during the mortgage process, many more are not. These “not in your control” items are the ones that you may not be thinking of. Just being aware of some potential pitfalls could help save your loan down the road, and your peace of mind today. What Many Mortgage Articles Don’t Say Many mortgage related articles offer similar things like buying a car before closing, or opening a bunch of new credit cards, but there are more uncommon factors that can lead to a similar loan turndown. For example, a home not be able to get approved if it’s unsuitable, or unsafe, for human habitation — a condition you may not discover until after a thorough home

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