Buying May 12, 2022

What Not to Do When in Process of Buying a Home.

You’ve done it! You have taken the first steps in buying your home and have gotten prequalified by a trusted mortgage professional. You have gone out and started looking at homes online and maybe even toured a few you were interested in. Maybe you even have an offer that has gotten accepted and are now working toward CLOSING on your home!!!

All of these are reasons to celebrate. You have done the work and are approaching a huge milestone.

*If any of these are on the horizon, make sure you discuss with your real estate agent AND your mortgage professional to see how/if they affect you.

1. Job Change – There are times when opportunities come up and you may want to jump because the timing seems to work out. You are about to buy a house AND get a better job? JACKPOT!


  • If the job is in a different profession/field/career than what you are currently doing, this can affect your pre-qualification.
  • Lending institutions typically look at 2 years of income as a basic requirement for their loans.
  • Even if the new job pays you MORE, this could negatively affect your loan

2. Open New Credit – you want to buy new furniture, gym equipment, kitchen appliances or a car for your new home and new life. And there is low/zero % financing program? SIGN ME UP!


  • Opening new accounts can impact your credit score which can impact your rate.
  • New accounts can even affect the type of loan program you qualify for.
  • New accounts opened during the process of buying a home can look like a red flag for lenders

3. Closing Old Credit Accounts

    • Similar to the example above this can have all the same effects as opening new credit.

4. Receiving out of the ordinary large deposits

    • Remember that when lending institutions look at your financial picture and approve you for your loan, they approve you based on the picture they have at the time. If you change the picture during the process, that could be a red flag.
    • Also remember that “gift money” can be accepted for different loan programs but the amount and maturity (time in your account) can vary depending on the program.

These are the major moves to AVOID. If you feel like you might make any of these mistakes,


Don’t end up a real estate meme. You’re better than that. Especially now that you have read this!

Have more questions? Reach out and let’s chat!