What not to do after you get pre-approved

None of this is meant to make you nervous. Life keeps happening while you shop for a home, and almost every situation has a clean solution when your loan officer hears about it early. This is the short list worth keeping on the fridge.

Do not open new credit

A new card, a car loan, or store financing changes your debt ratio.

Lenders compare your monthly debts to your monthly income. Every new account adds a payment to that math, even a small one, and a new inquiry can nudge your score. Buying a car the month before closing is the classic example, and it has cost real buyers their approval. If you need something before closing, pay cash or wait until the keys are in your hand.

Do not make large deposits without a paper trail

Gifts and bonuses are welcome. They just need to be documented.

Underwriters have to show where your down payment came from. A large deposit with no explanation raises a question that has to be answered before closing, which means letters, statements, and delays. A gift from family needs a short gift letter and proof of the transfer. A bonus needs the pay stub that shows it. Tell your loan officer before the money moves and it becomes a five-minute task instead of a scramble.

Source: Fannie Mae Selling Guide, section B3-4.3, verification of deposits and gift funds (2026 edition).

Do not change jobs without a quick call

Even a better job can slow things down if the way you are paid changes.

Your pre-approval counted a specific kind of income. A move from salary to commission, from employee to contractor, or into a brand new field can change how much of your income a lender is allowed to count, and sometimes it means waiting for new pay history. A move within the same field with the same pay structure is usually fine. Either way, a two-minute call before you accept keeps everything on track.

Do not close accounts or pay off collections without asking

It sounds responsible, and sometimes it moves your score the wrong way.

Closing an old credit card can shorten your credit history and raise your utilization on the cards that remain. Paying an old collection can reset its activity date, which some scoring models treat as fresh. Neither is always bad. The point is that the right move depends on the account, and your loan officer can look at the file and tell you what will actually help. Learn more about how inquiries and score changes work in our guide on whether checking your credit hurts it.

What if something already happened?

Say so, the same day. Most of these situations are fixable when they are caught early. A new account can be paid down, a deposit can be documented, a job change can be re-verified. What causes real trouble is the surprise in the final days before closing, when there is no time left to solve it. This applies no matter which lender you close with.

Frequently asked questions

Can I buy furniture or appliances before closing?

Paying cash is fine. Opening a store credit line or a financing plan is not, because it adds a new account and a new monthly obligation to your file. Wait until after you have the keys.

My parents want to help with the down payment. Is that a problem?

Not at all, as long as it is documented. Gift funds need a short gift letter and a paper trail showing where the money came from. Tell your loan officer before the money moves and it is simple.

I got a better job offer. Should I turn it down?

No, but call your loan officer before you accept. A move within the same field and pay structure is usually fine. A switch to commission, contract, or self-employment can change how your income is counted.

Should I pay off my collections to raise my score?

Sometimes yes, sometimes it does nothing or lowers the score temporarily. It depends on the account and how old it is. Ask before you pay, so the money goes where it actually helps.

What if something already happened?

Tell your loan officer right away. Most issues have a fix when they are caught early, and almost none of them do when they surface the week of closing.

Disclaimer: This article is for general educational purposes only and is not financial advice, a commitment to lend, or an offer of credit. Guidelines vary by loan program and lender, and every file is reviewed individually. Warens Financial Group, NMLS #2532048. Equal Housing Opportunity. Warens Financial Group, NMLS #2532048. Franklin Warens, Mortgage Broker, NMLS #1249423. Equal Housing Opportunity.