FIRST-TIME BUYERS

Pre-Approved? Here’s Exactly What Not to Do Before Closing

Reviewed by Susan Pryor, Licensed Mortgage Loan Originator, NMLS #157369 — Updated August 2026

Last updated: August 2026

Key Takeaways

  • Pay every bill on time — payment history is the biggest factor in your credit score.
  • Keep saving for moving costs, earnest money, inspection, and appraisal.
  • Don’t open new credit or take on new loans until you have keys in hand.
  • Treat your credit as frozen until closing — if you’re unsure, ask your lender first.

Getting pre-approved is the moment most buyers exhale.

And you should. It means your income, your credit, and your assets have been reviewed — and you’re in a strong position to buy. That’s real.

But here’s what most buyers never hear: what you do between pre-approval and closing matters just as much as what got you approved. We’ve seen approvals fall apart over things that seemed completely unrelated to the mortgage.

Here’s the list we give every buyer we work with.

The Do’s

✓ Keep paying every bill on time. Payment history is the single biggest factor in your credit score. One missed payment at the wrong moment can change your rate or your approval.

✓ Keep saving. Moving costs more than most people expect — furniture, repairs, the little things that add up. Plus you’ll need cash for earnest money, inspection, and appraisal once you go under contract.

✓ Start being more careful with money right now. Less eating out, more eating at home. Any adult in your life you’ve been financially supporting might need to start taking care of themselves. This is your season to focus on you. You’ll be in a better position to take care of the people you love as a homeowner.

✓ Respond quickly when your lender reaches out. If we need a document or have a question, the faster you respond, the smoother everything moves.

✓ Tell your lender immediately if anything changes — income, employment, a large deposit, a large purchase. We’d rather know early than create stress for you at the end of the process.

The Don’ts

✗ Don’t open any new credit. No new cards, no car loans, no furniture financing — not even a store card to save 10% at checkout. Any new account shifts your debt-to-income ratio and triggers a hard inquiry on your credit. Both can change what you qualify for.

✗ Don’t close any existing credit accounts. Closing accounts you’ve had for years can lower your average credit age and reduce your available credit — both can hurt your score.

✗ Don’t co-sign on anything for anyone. If they don’t pay, it shows up as your debt.

✗ Don’t make large deposits without telling your lender first. Underwriting will ask where that money came from. If it’s a gift, it gets documented the right way. Big unexplained deposits slow things down.

✗ Don’t make large purchases, even in cash. A sudden drop in your bank balance can affect your reserves and raise questions.

✗ Don’t change jobs without talking to your lender first. Even a better-paying job can complicate things if the timing is wrong. Moving from W-2 to self-employed mid-process can stop an approval entirely.

✗ Don’t let anyone run your credit. Every inquiry shows up on your report.

None of this is meant to feel restrictive. It’s temporary. Once you have keys in hand, you can do whatever you want.

Until then, if you’re wondering whether something is okay to do — ask before you do it. That one habit prevents most of the problems on this list.

FAQ

Common Questions

No — wait until after closing. A new account changes your debt-to-income ratio and adds a hard inquiry to your credit, and either one can change what you qualify for.

Talk to your lender before you accept anything. Even a raise can complicate an approval if the timing or pay structure is wrong, and switching from W-2 to self-employed mid-process can stop it entirely.

Hold off. A sudden drop in your bank balance can affect the reserves your approval was based on. Buy it the week after closing instead.

Yes. Mortgage guidelines require a soft credit pull right before closing to confirm nothing has changed — new accounts, new inquiries, or missed payments can all affect your loan terms. Treat your credit like it’s frozen until you have keys in hand.

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About Southern Mortgage Authority — Susan Pryor, Branch Manager | Licensed Mortgage Loan Originator, NMLS #157369, has served 6,000+ clients over 25 years. Based in Marietta, GA and licensed in 13 states. Call 678-712-2063 or send us a message.

Susan Pryor NMLS #157369 | Ark-La-Tex Financial Services, LLC NMLS #2143 d/b/a Benchmark Mortgage | Equal Housing Lender. Not a commitment to lend. All loans subject to credit approval.