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Before Closing: Keep Credit, Cash and Communication Steady | October 14, 2026
← Paul’s main website · Realtor & Builder Knowledge Center
Published October 14, 2026 · Buyers & Realtors
By Paul Singh, Senior Mortgage Advisor · NMLS #406332
Educational guide. Sources checked October 14, 2026. Publication today does not mean a rule changed today.
An early credit review is not the last possible review
The CFPB explains that a lender may obtain credit information when you apply and again shortly before closing. That makes the period after preapproval a poor time to assume that new borrowing will have no effect on the transaction.
Discuss major changes before making them
Before financing a car or furniture, opening another credit account, changing work arrangements or making a large transfer, ask the mortgage team how the action could affect your file. This is a communication checklist, not a rule that every change prevents a loan. Report changes honestly and promptly rather than waiting for the lender to discover them.
Keep the file organized
Continue paying obligations on time. Respond to document requests with complete, current records. Keep receipts and explanations for transaction-related transfers. Track outstanding items with a due date and an owner so a simple request does not remain unresolved as closing approaches.
A useful Realtor check-in
Ask the buyer whether the lender has requested anything new and whether the transaction timeline still works. Avoid telling the buyer a financial change is harmless without the lender’s review. Ask Paul for a concise status update that respects the buyer’s privacy and identifies the next action. Good coordination is valuable even when no underwriting guideline has changed.
Sources and next steps
- CFPB: when lenders may check credit
The practical checklists above are suggested discussion points. Agency guidance applies to the specified program; individual lender terms and eligibility can differ. Linked lender examples are educational references, not a statement that every listed program is available through Paul or an endorsement by a government agency.
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General education, not a commitment to lend, rate quote, approval or personalized financial, legal or tax advice. Loans are subject to credit, property and underwriting review and applicable availability. Paul Singh · NMLS #406332 · Petra Cephas Inc. · NMLS #1222300 · Mortgage broker, not a lender. Equal Housing Opportunity.