Important: Protect Your Mortgage Approval
Please read carefully and follow these guidelines to avoid jeopardizing your loan approval.
Your mortgage pre-approval was based on your financial picture at that time—your balances (savings, checking, retirement, etc.) and your existing debts (car payments, student loans, current mortgage, and more).
Critical: Lenders commonly pull your credit again right before closing (often the day before). New debts or reduced cash reserves can cause delays or denial.
Because of this final check, it’s essential to keep your finances stable between now and closing. Even purchases placed on a credit card—like a new TV, sofa, or appliances—can change your debt-to-income ratio and put your loan at risk.
Until After Closing, Please:
- Avoid major purchases (cars, furniture, electronics, appliances, vacations, etc.).
- Do not open or close credit cards or new lines of credit.
- Do not co-sign loans for anyone.
- Pay all bills on time and maintain your regular payment history.
- Keep bank balances stable; avoid large, unexplained deposits or withdrawals.
- Limit discretionary spending to preserve cash reserves.
The safest approach is simple: wait to buy anything big until after closing—then celebrate freely.
Not sure if a purchase is okay? Before proceeding, please speak with your mortgage lender. They can confirm what will or won’t affect your approval.