When you’re in the process of buying a home, there are a lot of things to keep track of. It can be easy to get caught up in the excitement (or the stress) and overlook some important details. Here are six things you should never do before closing on a real estate transaction.

1. Changing Jobs or Become Unemployed

Changing your job or becoming unemployed can make it difficult to finance your home. If you’re in the process of buying a home, it’s best to avoid making any big changes to your employment situation.

2. Making Big Purchases

It’s important to avoid making any large purchases – especially on credit – before closing on your home. These purchases can affect your debt-to-income ratio and make it more difficult to obtain financing.

3. Opening New Lines of Credit

Opening new lines of credit is also not a good idea before closing on a home. Loaners consider people who apply for new credit cards a risk. This can lower your credit score and make it more difficult to get a loan. Always maintain your credit score above 670.

4. Missing Payments

You must make all of your payments on time – including credit card payments, car payments, and any other debts you may have. Missing a payment can damage your credit score and make it harder to get a loan.

5. Co-Signing for Someone Else

Co-signing for someone else’s loan can affect your own ability to get a loan. It contributes to your debt-income ratio, which reflects that you have a big debt to settle. Besides, you could lose your property in case they default.

6. Making Major Life Changes

Making significant life changes – such as getting married or having a baby can affect your ability to get a loan. If you absolutely need to make a life change, talk to your loan provider beforehand to see if their arrangement will accommodate your situation.

Looking for a Home in South Carolina?

When you’re in the process of buying a home, you should avoid the six things above. And if you plan to buy a house in South Carolina, we can be of help. With lots of years of experience in the South Carolina real estate market, we would get you a suitable home that meets your budget and lifestyle needs. Contact us today at (864)-497-7107 to learn more about our services and how we can assist you in your home search.