I'm approved for a loan and it should be final soon, should i hold off on furniture purchases on credit?

thats correct my name is mitch block and you can call me at 516-840-3675 and ill explain why.

Yes..hold off until you close...the funder will be checking credit just before you fund. New inquiries and credit can delay your close. Worst case can actually lead to denial based on new debt ratios....best to be safe than sorry...and wait...you will have plenty of time to shop to your hearts content when you have keys!! Congrats...

DO NOT APPLY FOR NEW CREDIT during the loan process WITHOUT consulting your Loan Officer. For some people, new debt will have no effect. For others, even a penny of new debt can end up causing trouble. You are correct that lenders do pull credit again within a few days of closing, and look to see if there were any credit changes. www.WI-MortgageBroker.com

Please do yourself a favor - no applications for credit while in the loan process, unless expressly OK'd by your loan officer. When you make application, it is a "snap shot" of your credit and your loan is underwritten accordingly. If you add a debt, your loan will have to be "re-underwritten to reflect the change. It may not take you out of qualification, but it will be a pain in the butt because the new account will have to be manually added to your credit report by the credit bureau - then reviewed again by underwriting. DON'T DO IT!!!!

Yes, your lender might very well run your credit again just prior to funding. I would hold off on racking up your credit card bills with large furniture purchases until your loan has been approved. Do not rack up existing credit cards or apply for new credit cards. While you are excited now to make your new home, being denied right at the end because of new balances affecting your DTI will be devastating.

do not buy anything.They re check you credit prior to closing.Any new credit can effect your approval?

The lender will run your credit prior to funding and any new inquiries will need to be explained.. if you have taken on any new debt, you will have to go back to underwriting so they can determine you still qualify (Debt to income ratio)... WAIT till your loan is finalized and you have the key's in your hand before taking on any new credit.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

yes dont use your credit , dont apply for new or use any cards.... most lenders will rerun the credit right before closing and if there is new debt or higher balances on credit then it will impact your approval.... be patient and wait till the loan is funded before you do anything to jepordize the loan..... im sure you wouldnt want that new couch if there isnt a new home to put it in..... Good luck and conratulations