Once your offer is accepted, it feels like the hard part is over. From the lender's side, nothing is final until your loan funds. Your income, credit and bank accounts get checked again shortly before closing, and a change that seems harmless to you can change the approval.

Here are the five moves that most often derail a loan between application and keys, why they matter, and what to do instead. They apply whether this is your first purchase or you're selling one home to buy the next.

Graphic listing things you should never do after applying for a mortgage

Why the rules don't stop once you're approved

Most approvals are conditional. Underwriting signs off based on a snapshot of your finances, then confirms that snapshot is still accurate right before funding. Under Fannie Mae guidelines, for example, lenders typically re-verify employment within 10 business days of closing, and many lenders monitor your credit report for new debt while you're in escrow.

The simplest rule: if it involves credit, income or money moving around, call your lender before you do it. A two-minute call can save a closing date. For a refresher on what your lender reviewed in the first place, see what a real pre-approval includes.

Avoid financing big purchases like a car or furniture while your mortgage is in process

1. Don't finance big purchases

It's tempting to line up a new car, furniture or appliances for the new place. Wait. Every new monthly payment goes into your debt-to-income ratio, and a single car payment can be enough to push a borderline file over the limit.

Hold off on auto loans and leases until after you have keys.
Skip store financing and buy-now-pay-later plans for furniture and appliances. They can show up on your credit report and count as debt.
Even paying cash for a big purchase can be a problem if it drains the funds you need for closing costs or reserves.

The furniture will still be there after closing. So will the 0% financing offer.

Avoid changing jobs or how you are paid during the mortgage process

2. Don't change jobs or how you're paid

Lenders approve you based on stable, documented income. Changing jobs mid-escrow, even for a raise, can send your file back to underwriting. Changes that cause the most trouble:

moving from salary to commission, bonus or hourly pay
leaving a W-2 job to become self-employed or a 1099 contractor
starting a new job with a probationary period
cutting your hours or taking unpaid leave

Sometimes a change can't wait. If so, tell your lender right away, before you give notice if possible. Some job changes, especially into the same line of work at equal or higher pay, can be documented without derailing the loan. Surprising an underwriter during the final employment check is what causes the real damage.

Avoid opening or closing credit accounts while your mortgage is in process

3. Don't open, close or max out credit accounts

Your credit is likely to be checked again before funding, and lenders can see new accounts and inquiries.

Don't apply for new credit, including a store card for a discount at checkout. New inquiries and new accounts raise questions and can add debt.
Don't close old cards. It can raise the share of your available credit you're using and shorten your credit history, both of which can lower your score.
Don't run up balances, even if you plan to pay them off. High balances can lower your score and raise your required payments.
Don't pay off old collections without asking first. It sounds responsible, but it can affect your file in ways you don't expect.

And keep paying everything on time. A single late payment during escrow is one of the most avoidable ways to lose an approval.

Avoid large undocumented deposits and money transfers during the mortgage process

4. Don't move money around without a paper trail

Lenders have to verify where your down payment and closing funds came from. Large deposits that aren't from payroll need documentation, and cash is especially hard to source.

Don't deposit cash you've been keeping at home.
Keep statements for every account money moves between, including transfers between your own accounts.
If family is helping, a gift needs a signed gift letter and a clear record of the transfer. Here's how down payment gifts work.
Selling stocks or crypto for your down payment? Do it early and keep the sale and transfer records.

One more warning: wire fraud targets homebuyers right before closing. Never wire money based on emailed instructions alone. Call your escrow officer at a phone number you already know, not one listed in the email, to confirm the instructions. Then confirm the wire arrived. It also helps to know your number ahead of time. See what cash to close includes.

Avoid co-signing a loan for anyone while you are buying a home

5. Don't co-sign for anyone

Co-signing a car loan, student loan or apartment lease for a family member or friend makes you legally responsible for that debt. Lenders count it as yours, so it can raise your debt-to-income ratio right when you can least afford it. Kindly say "after closing."

If you're selling to buy

Owners moving up get caught by these rules too. Keep your current mortgage paid on time, even if you're days from selling. Don't draw on a home equity line unless your lender knows the plan, and don't let your homeowners insurance lapse on either property.

Most of all, answer your lender's requests quickly. Slow responses are one of the most common reasons closings slip. More on issues that can delay your closing.

What to do next

Treat the time between application and keys as a freeze: same job, same credit, same accounts, no surprises. If you're not sure whether something counts, ask first. When you're ready to start looking, search homes across the East Bay.

Wondering whether a change you're considering will affect your loan? Call or text 925-876-0876, or reach us here.

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