Learning Objectives
- Build a 90-day pre-close checklist for buyers
- List actions that automatically blow up a pre-approval
- Explain the soft re-pull / refresh credit before closing
- Coach buyers through the gap between contract and closing
The 90-Day Checklist
- Do NOT open or co-sign new credit
- Do NOT close any existing accounts
- Do NOT pay off old collections without specialist guidance
- Do NOT move large sums between accounts unsourced
- DO keep utilization on each card under 10%
- DO save pay stubs, bank statements, and tax returns
- DO answer the lender's stip requests within 24 hours
The Refresh Pull
Most lenders run a 'soft refresh' 5–10 days before closing. New inquiries, new balances, and new accounts appearing on that refresh can change the DTI, the rate, or kill the loan entirely.
Key Takeaways
- Pre-approval ≠ clear-to-close.
- The refresh pull is the silent loan killer — coach the buyer accordingly.
- Document, document, document — every dollar must be sourced.
End-of-Module Exam
Module 11 Exam — 5 questions
Pick the best answer for each question. Pass with 80% or higher to mark this module complete.
- 1.
Between pre-approval and closing, a buyer should NOT:
- 2.
A 'refresh' credit pull happens:
- 3.
An unexplained $9,000 deposit one week before closing will:
- 4.
Optimal card utilization right before close is:
- 5.
If a buyer is laid off after pre-approval, the realtor should:
0 of 5 answered