Credit Cards Center Credit cards from our partners
Established Member
Posts: 34
Registered: ‎03-14-2013

Clear to Close - Is the house mine?

Hi all,


I've received a clear to close on a FHA loan and am now waiting for a closing date...


I've waited until now to tell my current landlord, friends, etc that I'm getting a house and am wondering if its essentially "in the bag" now? Assuming I've got the money needed for closing and dont apply for additional credit, is now a safe time to "assume" I'm going to close and tell my landlord I'm moving out?


I'd also like to buy some things for the house so that I'll have them when I get the keys... I don't mean with credit, but with cash from my bank account -- separate from closing funds. Is it safe?


What are the odds that my loan would fall through this late in the game? Thanks!

Starting Score: 756
Current Score: 756
Goal Score: 800

Take the myFICO Fitness Challenge
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011

Re: Clear to Close - Is the house mine?

Yes! The house is yours... 


You still have to wait til after closing to buy any furniture etc though, so don't go out and apply for credit or loans.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!

Take the myFICO Fitness Challenge
Valued Member
Posts: 43
Registered: ‎03-19-2011

Re: Clear to Close - Is the house mine?

Short of a natural disaster, nuclear war, or alien invasion, the house is yours.


That said...I would hold off buying anything until after closing.  You don't know what might come up and while hey give you an estimate on closing costs, and while rare, it is an estimate.  Your title company will give you your actual costs a few days or so before closing.


My advice...keep your money and then celebrate your closing with a shopping spree!



Starting Score TU: 520
Current Score TU: 725. EX: 736. EQ: 719

Chase Freedom $12k, WellsFargo $4k, Barclay $5k, BCU $15k, Discover $5k, USAA $7k, Lowes $4k, Home Depot $4k, Citi $13k
Regular Contributor
Posts: 208
Registered: ‎04-15-2009

Re: Clear to Close - Is the house mine?

I like to add that you're good just hold off on any new purchases until you settle.  However, if the zombie apocalypse happens then you're SOL>

Starting Score: EX 575/TU 534/EQ 570
Current Scores per Myfico: (As of 12-14-13) EX 690/EQ 685/TU 679
Goal Score: 720

Take the myFICO Fitness Challenge

New Contributor
Posts: 97
Registered: ‎10-28-2012

Re: Clear to Close - Is the house mine?

Actully its yours to make payments on. But the Bank owns it.


Starting Score: 701
Current Score: EX-FICO701 EQ-FICO644 TU-FICO724 all lender pulls April 2nd 2013
Goal Score: 800

Take the myFICO Fitness Challenge
Established Contributor
Posts: 546
Registered: ‎12-28-2012

Re: Clear to Close - Is the house mine?

Yes, you should be fine. When do you close? I was told by my LO I could buy anything I wanted as long as use cash and didn't establish new credit. Check with your LO about purchases with cash and happy shopping.
My Wallet: Amex Express BCE $27,000, Amex Express Blue Sky $6,000, Discover $10,000, Chase Freedom $5,000, Capital One $3,750, Barclay $8,500 (AU), Jared $10,000, Pottery Barn $8,000, Sam's $10,000, Ashley's Furniture $6,000, Lowe's $7,500 (AU), Express Next $3,360, and Macy's Store Card (Joint Account) $2,000.

Last Application March 25, 2014. Score ranges 700+
Posts: 10,472
Registered: ‎03-06-2010

Re: Clear to Close - Is the house mine?

playboy wrote:

I like to add that you're good just hold off on any new purchases until you settle.  However, if the zombie apocalypse happens then you're SOL>

lol Smiley Happy

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.