How to Avoid Damaging Your Credit Before a Columbus, Ohio Home Mortgage Loan Closes

Avoid credit card debt to buy a house in Columbus, Ohio

by Ron Kendle

A Pre-Approval Letter is ONLY the Beginning

This NOT a mistake that occurs when you have the Kendle Team in charge of buying or selling your house in Central Ohio, but I have seen it happen regularly to the clients of other real estate agents in New Albany, Dublin, Westerville, and elsewhere.

Here’s the deal: Even if a buyer possesses a pre-approval letter from their Columbus, Ohio mortgage company, the loan finalization is NOT complete and buyers should not feel free to then splurge and rack up more debt on their credit report!

Dublin, Ohio home loan information

Often, potential buyers get excited, and start doing insane things like establishing new credit card accounts and going on a shopping spree at Polaris or Easton for new furnishings, carpeting, hot tubs, or whatever else they think they’ll need for their new house for sale in New Albany, Westerville, Dublin, or Worthington.

This is a horrible blunder. Do not do this before you have completely closed on the purchase of a new home in Columbus!

Why? Just before the actual closing, most Ohio mortgage companies and banks will re-examine the loan before finalizing it. If the potential home buyer has incurred further debt – or seemingly intends to – their previously approved interest rate is likely to be increased and – even worse – the home loan itself may be completely denied!

Similarly, those who have listed houses for sale in Franklin or Delaware county should clearly understand that a potential buyer with a either a pre-qualification letter or pre-approval letter has not YET been fully approved for a home loan in Dublin, Powell, Westerville, or elsewhere across Central Ohio.

One reason for that is discussed above, but home sellers should also know that there exists a large difference between Pre-Approval and Pre-Qualification letters from a Columbus, Ohio home loan lender.

Avoid credit card debt to buy a house in Columbus, Ohio

I’ll discuss that and point out the difference in my next blog post here.

All of us on the Kendle Team are focused on helping you buy or sell a house in Central Ohio with the utmost ease and success. We’ll steer you away from blunders like that discussed above and strive to make the entire transaction as stress-free as feasible. Contact us for a chat on how we operate and serve you as Realtors in Columbus.

You may also call me directly at 614-325-6295 or

Ron Kendle & The Kendle Team are part of the ReMax Consultant Group

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