Protect the assumptions behind the pre-approval
- Talk with Billy before applying for new credit, co-signing, financing furniture, or changing debt balances materially.
- Communicate employment, income, leave, business, or compensation changes promptly.
- Keep planned down-payment and closing funds traceable; ask before moving large amounts between accounts.
- Save statements and documentation for significant deposits or gifts.
- Continue paying every obligation on time and avoid overdrafts.
- Do not assume the letter stays current forever; property, rate, debt, income, asset, and program changes can affect it.
Lenders may check credit during the process or before closing. A new obligation can change monthly debt and the qualification analysis even when the payment has not started.
Before writing an offer
Send Billy the property address, price, property type, occupancy plan, taxes or association information, proposed closing date, requested concessions, and intended down payment. A condominium, multi-unit property, manufactured home, investment property, or home with unusual condition may require a different review than the generic scenario used for the first letter.
Coordinate with the real estate agent before changing the offer structure. A stronger-looking price or concession request can affect cash to close, appraisal strategy, and program limits.
Once the offer is accepted
- Send the signed contract promptly. Dates for financing, appraisal, inspection, and closing begin to matter.
- Review the updated numbers. Confirm the selected price, credits, down payment, taxes, insurance estimate, and expected cash to close.
- Respond to document requests. Delayed or incomplete items can delay underwriting and closing.
- Arrange homeowners insurance. Coverage and premium affect qualification and closing figures.
- Keep Billy and the agent informed. Problems are easier to solve when they are surfaced early.
Approaching closing
Compare the Closing Disclosure with the most recent Loan Estimate and ask about anything unexpected. Confirm the wire instructions using a known, independently verified phone number; do not trust last-minute emailed changes. Bring only the amount and payment method confirmed by the closing party.
It is based on assumptions and the information reviewed at that time. Final approval remains subject to the property, documentation, verification, underwriting, and current program requirements.