Keep your pre-approval while shopping Clay properties.It is so exciting to get pre-approved for a mortgage and to start seriously looking at Clay properties. However, it is very important to remember that a pre-approval is not a done deal. That money is not yours yet, so you must be careful to not make any mistakes that might cause your mortgage pre-approval to be revoked. Here are a few tips to make sure that your mortgage process will be smooth sailing from pre-approval to closing.

If You’re Looking forward to Living in Clay, Keep Your Finances in Good Shape

In a nutshell, keep your finances in the same state as they were when you filled out the mortgage pre-approval application. Keep your savings at the same level. Live on a low budget and resist the urge to spend large amounts of money. It can also be detrimental to make a large deposit. If some money comes in that does not match up with your current income, it could mean bad news for the loan. Most of the time, large deposits that do not fit the norm would need a letter of explanation and proper documentation. Before you accept any gift or make a big sale, ask your lender about the impact.

In addition to keeping finances the same, it is also important to keep life the same while looking at Clay properties. Do not change jobs or get divorced. The loan is contingent upon the conditions at the time of the application. Changes could throw a wrench in the decision of the lender.

A few other tips are to not close any credit card accounts, keep on top of your current mortgage or rent payments, and not get into any trouble with the law. All of these things can affect a lender’s decision to go through with the loan. Buying a home and living in Clay is an exciting, yet stressful time. It is important to understand the entire process and to be diligent to keep your finances in top shape.