6 Blunders Homebuyers Make After Pre-Approval


Here are six common mistakes we see homebuyers do that can cost them the home of their dreams.

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If you’ve gotten pre-approved for a mortgage and are ready to start seriously shopping, here are some things we suggest you avoid doing in that time between pre-approval and recording on your house: 

1. Don’t quit your job. If you’re forced to leave your job, let us know right away and talk to your lender. Few things will raise your lender’s eyebrows faster than finding out that you no longer have employment or a steady stream of income. 

2. Don’t buy or lease a vehicle. I lost a house for a guy one time because he was stationed in the lower 48, had to move up to Alaska, and thought it a perfect time to buy a new Dodge Ram pick-up; his loan-to-value ratio spiked, disqualifying him for the loan. We still found him a home, but he missed out on the one he really wanted. 

3. Don’t increase the balances on your credit cards. During this period, it’d be better to just put the cards in a drawer and forget they’re even there.



Keep your Realtor and lender informed about what you’re doing every step of the way.

4. Don’t use money you’ve set aside for your closing cost or your down payment. To avoid temptation, put those funds in an entirely separate account. 

5. Don’t omit any liabilities. Accurately report loan debts and things like child support. Not doing so will only come back to bite you. 

6. Don’t buy furniture or appliances. Prior to moving, it’s easy to become antsy and go out and buy stuff for your new house—focus on actually getting the house first, though. Other large purchases can impact your loan-to-value ratings. 

Keep your Realtor and lender informed about what you’re doing every step of the way. Communication is key. Speaking of which, if you have any questions about the information covered in today’s message, feel free to call or email us. We’d love to help you.

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