How do you prepare for the final approval process after finding your dream home?

2 Gather your documents

Your lender will need to verify your financial situation and identity before they issue the final approval. This means you'll have to provide documents such as pay stubs, bank statements, tax returns, W-2s, and ID cards. Make sure you have these documents ready and organized, and respond to any requests from your lender as soon as possible. The faster you submit your documents, the faster you'll get the final approval.

3 Avoid any major changes

One of the most important things to do during the final approval process is to avoid any major changes that could affect your eligibility or loan terms. For example, don't quit your job, apply for new credit, make large purchases, or miss any payments. These actions could lower your credit score, increase your debt-to-income ratio, or raise red flags for your lender. If you have to make any changes, consult with your lender first and explain the reasons.

5 Prepare for the closing

Once you get the final approval, you're almost there. The last step is the closing, where you sign the loan documents and get the keys to your new home. To prepare for the closing, you'll need to do a final walk-through of the property, review the closing disclosure, and arrange for the funds for the down payment and closing costs. You'll also need to bring your ID, a cashier's check or wire transfer confirmation, and proof of insurance. The closing can take a few hours, so plan ahead and be patient.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?