(Closed) Credit and closing question

posted 7 years ago in Home
Post # 3
Member
1137 posts
Bumble bee
  • Wedding: September 2010

You can buy them the day you close. Usually the mortgage company will pull your credit at least a few weeks before closing so they can get all the documents together. I wouldn’t buy them before you close just in case your closing gets delayed for some reason, but you can go straight from closing to the store!

Post # 4
Member
6661 posts
Bee Keeper
  • Wedding: May 2010

I am getting close to closing on an apartment (if the deal actually goes through this time) and intentionally holding off on buying anything big until after we close. Once we close we can spend all we want (as long as it makes sense for us financially) but the bank can pull out for any reason before that.

I definitely recommend holding off on making a purchase until after you close! Pick out what you want and have the store’s # on speed dial, but wait!

Post # 6
Member
1137 posts
Bumble bee
  • Wedding: September 2010

One thing you might be slightly careful of is that the appliance store you are purchasing from does not give you conditionally credit when you purchase. I have heard of this happening with car companies before. They approve your credit on-site and let you drive off in the car. Then, the bank they use for their financing pulls your credit to confirm your loan, and if they see that your credit has changed (because the mortgage is registered), they may revoke the credit.

Ask A LOT of questions from the appliance store before you make the final purchase and get everything in writing!

Post # 7
Member
14496 posts
Honey Beekeeper
  • Wedding: June 2011

You can go the day you close.  Once you close, that’s all set and done and the digging in your credit the mortgage company does is all set.  No need to wait a few days… I’m not sure about in OH, but in MA, I think the closing documents are filed the same day since that is what makes it offical.  Many closings happen right at the registry of deeds so its filed within the hour.

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