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question about purchasing something before closing on new construction loan

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Anonymous
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question about purchasing something before closing on new construction loan

Have already been approved, and signed paperwork for our new construction loan. Problem, we need to maintain the land that we are building on. It's 1.4 acres, and if we let it go, it will be crazy. We did the appraisal on Friday, and are just waiting on results, or the phone call to tell us when we are closing. I know they aren't going to run the credit until 90 days before house is finished, so we can lock in a rate. I plan on putting down half right away for the lawnmower. The other half will definitely be paid back before they run the credit. The sale at Sears ends today. Should I do it, or what?? Please, suggestions, advice, anyone???

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Anonymous
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Re: question about purchasing something before closing on new construction loan

bumping..please anyone???

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Anonymous
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Re: question about purchasing something before closing on new construction loan

Sorry to get back to you so late.

If there is any lingering question at all about either your DTI or your FICO score, do not purchase anything.

Message 3 of 3
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