Home buyers waiting for a mortgage loan to fund are advised to be conservative when it comes to buying new furniture, appliances, or the like for the house they are purchasing. It has become standard practice for lenders to check borrowers’ credit scores in the weeks leading up to the closing, sometimes even the day prior to closing. Large purchases can use up a considerable proportion of a borrower’s total credit limit, which can lead to a drop in the borrower’s FICO score and possibly change the terms of the loan.
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