Purchased appliance for 1500 $ before close - just put deposit as opposed to buying them. Is this okay ? Credit card balance = 0.

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Rainmaker
1,770,885

John Novak

Keller Williams Realty The Marketplace - Las Vegas, NV

Henderson, Las Vegas and Summerlin Real Estate

I'm an agent, not a lender ... but I always caution my buyers not to make any significant financial moves one way or the other without asking their lender. While I don't think this will be an issue for you, the only answer that counts is the one you get from your lender on Tuesday. Good luck!

May 25, 2015 02:05 PM

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Debbie Gartner

White Plains, NY
David Jain

Rainmaker
3,986,423

William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

If you are worried about it... maybe should think twice, but if you didn't creat a new account or larger balance you should be good

May 25, 2015 12:22 PM

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David Jain

Rainmaker
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Debbie Gartner

The Flooring Girl - White Plains, NY

The Flooring Girl & Blog Stylist -Dynamo Marketers

You really should speak with your mortgage broker about this. I don't think it's about the $100 but rather your debt to income ratio, so you've made that worse (assuming you applied for credit). For some, this is a non issue; fot others, it could make a big difference. and, in general large purchases before closing are not a good thing.

Call your mortgage broker tomorrow. Then, you'll know.

May 25, 2015 10:22 AM

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1

David Jain

Rainmaker
4,800,282

Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

It could.

Jan 02, 2019 06:31 AM

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Ambassador
1,089,495

John Meussner

Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA

#MortgageMadeEasy Fair Oaks, CA 484-680-4852

If they pulled your credit you may have to explain the inquiry with a formal letter of explanation. If you just paid the $100, and will not be financing the washer/dryer but paying cash for the balance, that will be fine as long as the $100 wasn't needed for closing funds or reserves. If you will be financing the waster/dryer you may still be OK, but would have to qualify with those payments if there was a credit inquiry that is resulting in new debt.

May 26, 2015 02:26 AM

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Rainmaker
4,693,780

Michael Jacobs

Pasadena, CA

Pasadena And Southern California 818.516.4393

Check with your lender...STAT.

May 26, 2015 12:51 AM

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Rainmaker
544,533

Brenda J. Andrew

ULTIMA REAL ESTATE - Willis, TX

Professional Realtor in N Houston & Corpus Christi

I would normally say check with your lender before making any purchases prior to closing. If it does not show up on your credit, and you still have the funds to close, you should be fine. I can understand why you made the purchase and it sounds like you are probably okay.

May 25, 2015 11:17 PM

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Rainmaker
4,434,227

Gita Bantwal

RE/MAX Centre Realtors - Warwick, PA

REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Call your loan officer right away and ask the question.

May 25, 2015 10:46 PM

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Rainmaker
2,759,862

TeamCHI - Complete Home Inspections, Inc.

Complete Home Inspections, Inc. - Brentwood, TN

Home Inspectons - Nashville, TN area - 615.661.029

From what I understand, it is not a good idea to purchase anything prior to closing. Make sure the store did not run a bureau.

May 25, 2015 06:26 PM

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Rainmaker
1,683,912

Larry Johnston

Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN

Broker,Friends & Neighbors Real Estate, Elkhart,IN

It's not good to buy anything until closing, unless you pay cash.

May 25, 2015 02:55 PM

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Rainmaker
3,988,138

Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

The Dedicated Clarksville TN Realtor-(931)320-6730

If they took any credit card info or your social security numbers they may run your credit. If the store is just holding without that then you are probably fine.

May 25, 2015 12:51 PM

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I'm an agent, not a lender ... but I always caution my buyers not to make any significant financial moves one way or the other without asking their lender. While I don't think this will be an issue for you, the only answer that counts is the one you get from your lender on Tuesday. Good luck!
If you are worried about it... maybe should think twice, but if you didn't creat a new account or larger balance you should be good
You really should speak with your mortgage broker about this. I don't think it's about the $100 but rather your debt to income ratio, so you've made that worse (assuming you applied for credit). For some, this is a non issue; fot others, it could make a big difference. and, in general large purchases before closing are not a good thing.

Call your mortgage broker tomorrow. Then, you'll know.
If they pulled your credit you may have to explain the inquiry with a formal letter of explanation. If you just paid the $100, and will not be financing the washer/dryer but paying cash for the balance, that will be fine as long as the $100 wasn't needed for closing funds or reserves. If you will be financing the waster/dryer you may still be OK, but would have to qualify with those payments if there was a credit inquiry that is resulting in new debt.
I would normally say check with your lender before making any purchases prior to closing. If it does not show up on your credit, and you still have the funds to close, you should be fine. I can understand why you made the purchase and it sounds like you are probably okay.
From what I understand, it is not a good idea to purchase anything prior to closing. Make sure the store did not run a bureau.
It's not good to buy anything until closing, unless you pay cash.
If they took any credit card info or your social security numbers they may run your credit. If the store is just holding without that then you are probably fine.