10/30/2026
🏡🔑 The Do NOTs of Home Buying: Protect Your Loan Approval!
Did you know that mortgage pre-approval doesn’t guarantee final approval?
Your lender may continue reviewing your finances right up until closing day. Even small changes can create unexpected complications!
Here are 5 things to avoid and WHY they matter.
🚫 1. Making Large Purchases
That new furniture or vehicle can wait! Financing major purchases increases your debt-to-income ratio (DTI), which lenders use to determine your borrowing eligibility. Even deferred payment plans can affect your approval.
🚫 2. Opening or Closing Credit Cards
New credit applications can lower your credit score, while closing accounts may affect your credit utilization. Both can impact your loan eligibility or interest rate.
🚫 3. Changing Bank Accounts
Lenders must verify the funds you’ll use for closing. Moving money between accounts can create additional documentation requirements and potentially delay your closing.
🚫 4. Co-Signing on Loans
Even if someone else makes the payments, you’re still legally responsible for the debt. That obligation may count toward your DTI and affect your mortgage approval.
🚫 5. Making Large Cash Deposits
Lenders need to verify the source of certain deposits. Unexplained cash deposits may require additional documentation, and funds that cannot be verified may not qualify toward your purchase.
💡 Here’s what many buyers don’t realize!
Your lender may check your credit again, verify your employment, and review updated financial documents before closing.
Pre-approval is just the beginning. Maintaining financial stability throughout the transaction is just as important!
✨ My advice? Before making significant financial changes, talk to your lender. One quick conversation could save you from a delayed closing!
🏡 Your Home, Your Haven.
Infinite Haven Realty | eXp Realty
📲 803-514-4415
