{"id":1759,"date":"2026-03-04T18:10:29","date_gmt":"2026-03-05T01:10:29","guid":{"rendered":"https:\/\/www.discoveryhomes.com\/blog\/?p=1759"},"modified":"2026-03-25T09:32:11","modified_gmt":"2026-03-25T16:32:11","slug":"6-things-to-avoid-before-closing-on-your-new-home","status":"publish","type":"post","link":"https:\/\/www.discoveryhomes.com\/blog\/6-things-to-avoid-before-closing-on-your-new-home\/","title":{"rendered":"6 Things to Avoid Before Closing on Your New Home"},"content":{"rendered":"\n

Congratulations! Your mortgage has been pre-approved, your dream home is under contract, and your interest rate is locked in. As you approach the final steps of the homebuying process, it\u2019s important to remain cautious. During this critical time, your lender will continue reviewing your financial situation and may request additional documentation before finalizing the loan.<\/p>\n\n\n\n

To ensure a smooth closing process, avoid making any major financial changes that could delay or jeopardize your approval. Here are six things to steer clear of before closing on your new home:
<\/p>\n\n\n\n

1. Do Not Ignore Your Lender<\/strong><\/h3>\n\n\n\n

Answer your phone and emails! Your lender is working diligently to prepare your mortgage paperwork and finalize your loan. If they request additional documents or information, respond promptly. Delays in providing the requested materials can slow down the closing process, putting your purchase timeline at risk.<\/p>\n\n\n\n

2. Do Not Change or Quit Your Job <\/strong><\/h3>\n\n\n\n

A steady employment history is a key factor in your mortgage approval. Switching jobs or quitting during this period\u2014even for a better-paying role\u2014can raise concerns with your lender and require them to re-evaluate your income stability. If a career opportunity arises, inform your lender immediately to understand how it might impact your loan.<\/p>\n\n\n\n

3. Do Not Open or Close Lines of Credit<\/strong><\/h3>\n\n\n\n

Avoid opening new credit accounts, such as store cards or car loans\/leases, as these actions require a credit inquiry and could increase your debt-to-income (DTI) ratio. Similarly, closing unused credit accounts can lower your credit score by reducing your overall credit utilization. Both actions can jeopardize your mortgage approval. <\/p>\n\n\n\n

Your mortgage approval is based on meeting certain criteria and any changes to your credit report may change your status. Wait until after closing escrow to make any changes to your credit profile.<\/p>\n\n\n\n

4. Do Not Change Bank Accounts <\/strong><\/h3>\n\n\n\n

Your lender reviews bank statements to verify funds for your down payment, closing costs, and cash reserves. They also use your statements to see where your money is coming from and has been in your account for a certain amount of time. Switching banks during the closing process can complicate this verification, as it most likely will require new documentation and explanations for account changes; and it can take about two months for new accounts to season . Keep your accounts stable until after closing escrow.<\/p>\n\n\n\n

5. Do Not Deposit or Transfer Large Amounts of Money <\/strong><\/h3>\n\n\n\n

Avoid making unusual or large deposits or transfers that aren\u2019t tied to your regular income. Lenders must document these transactions to ensure funds come from legitimate sources. If you receive a gift for your down payment or plan to withdraw funds from a retirement account, like an IRA or 401k, notify your lender in advance to follow proper documentation procedures.<\/p>\n\n\n\n

Transferring or withdrawing large amounts of money may decrease the cash reserves your pre-approval was based on, which can jeopardize your financing.<\/p>\n\n\n\n

6. Do not Pay Bills Late <\/strong><\/h3>\n\n\n\n

Timely bill payments are essential during the closing process. A missed or late payment could harm your credit score and potentially derail your mortgage approval. Set reminders or automate payments to stay on top of your bills during this period.<\/p>\n\n\n\n

Overall: Financial Stability is Very Important During Closing on a Loan <\/strong><\/h3>\n\n\n\n

The final steps to homeownership can be both exciting and stressful, but patience and financial caution will help ensure a successful closing. Avoiding these common mistakes will keep your loan on track and allow you to focus on the joy of moving into your new home.<\/p>\n\n\n\n

When you\u2019re ready to find your dream home, Discovery Homes is here to guide you. Explore our new home communities in the Bay Area and quick move-in homes<\/a> today!<\/p>\n","protected":false},"excerpt":{"rendered":"

Congratulations! Your mortgage has been pre-approved, your dream home is…<\/p>\n","protected":false},"author":1,"featured_media":1755,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[309,83,293,115,116],"class_list":["post-1759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homebuying-tips","tag-closing","tag-financing","tag-first-time-homebuyers","tag-homebuying","tag-homebuying-tips"],"yoast_head":"\n6 Things to Avoid Before Closing on Your New Home - Discovery Homes Blog<\/title>\n<meta name=\"description\" content=\"Learn how to ensure a smooth new home closing process, and avoid making major financial changes that could jeopardize home financing approval on the Discovery Homes Blog.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.discoveryhomes.com\/blog\/6-things-to-avoid-before-closing-on-your-new-home\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"6 Things to Avoid Before Closing on Your New Home - 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