Keeping a financial even keel is essential to purchase a home these days

Pay off your credit cards on time and in full, skip the new car or the new furniture. Banks and mortgage companies want to see financial stability with no big changes.

Anxious to close on the house? Sometimes the waiting period between finding your perfect place and driving up to your new home with keys in hand can be nerve wracking. You’ll want to be seen in the best light possible, so don’t get ahead of yourself.

Most likely you’ll need a mortgage and you want to be financially stable. When you begin your search, get copies of your credit report to make sure it is clean. If you find any errors, fix them.

Making large purchases in anticipation of buying a house, like new furniture, is not a good idea. That can affect your credit rating. The same goes for taking out another loan, buying a car or funding an education. Keep your credit situation as-is for right now.

Any changes to your credit status can make a difference for mortgage approval. Pay all your credit cards before the due date to make sure they are processed on time and don’t increase your credit balance. A mortgage pre-approval doesn’t make it a done deal.

Wait on any large purchases. For instance, no new car, or a new loan, or even new furniture for your home. Keep your credit situation as-is for now. Also, don’t co-sign a loan because that will add credit liability and could very well eliminate your chances of obtaining a mortgage.

Moving large sums of money is not a good idea. Don’t jump the gun and take money from savings to checking in anticipation of closing. Last minute credit and bank checks will generate inquiries about the shift and could slow down the process.

And if you leave the money in the savings account you won’t be tempted to spend it. Funds designated for closing should be left alone in the event of unexpected house-related costs. After all is said and done, you may have a bit left over but spending that won’t affect your closing.

Keep copies of all your paperwork in one place and have it ready in case someone in the process loses a crucial document. By keeping copies, you’ll be able to provide information quickly, getting you that much closer to your new home.

The time leading up to buying a house is all about financial restraint. Right now banks and mortgage companies are taking very close looks at their clients and you want to show you are a good candidate. After the closing, celebrate!