What not to do before closing on a house, experts say

Getting preapproved for your mortgage is only the first step in the homebuying process. And, while it can guide you toward an appropriate price range and help you make an offer on a home, it's not a guarantee, by any means, that you'll get approved.

In fact, there are actually quite a few things that could throw off your home financing entirely — even after you've made an offer and signed a contract on a house.

"Even with an accepted offer, the path to closing on a house can encounter unexpected twists," says Matt Dunbar, senior vice president of the southwest region of Churchill Mortgage.

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What not to do before closing on a house, experts say

Want to make sure your home purchase is safe, and that you're on track for a successful loan closing? Here's what experts say not to do before closing on a house.

Let your credit score get away from you

Your credit score is a big player in your mortgage application. It helps determine whether you qualify for a loan and, if you do, what mortgage rate you'll get. For this reason, it's important to keep your credit stable as you move toward closing.

That means no taking out new credit cards and no new loans — both items that can ding your credit score considerably.

"Do not open up new credit cards or buy a new car," says Jennifer Beeston, senior vice president of mortgage lending at Guaranteed Rate Mortgage. "New debt can turn your approval into a denial. It's not worth the risk."

You also need to take care to pay your bills — all of them — on time, every time. Payment history accounts for more than a third of your total credit score, so late payments can really hurt your application. 

"Missing bill payments or making late payments can harm your credit score, making it harder to qualify for a mortgage or secure favorable terms," says Matt Vernon, head of consumer lending at Bank of America. "Lenders use your credit score to evaluate your creditworthiness and determine the interest rate they offer, so a lower credit score due to missed payments could lead to higher mortgage costs over time."

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Change jobs or work hours

Lenders want to see that you have steady, stable income with which to make your payments when buying a home, so any changes to your earnings can be a big red flag. If you can, avoid switching jobs prior to closing, and if you're not salaried, try to keep your hours fairly consistent in the weeks leading up. 

"Lenders may verify your employment and income closer to the closing date," Vernon says. "Any changes in your employment status, such as switching jobs or a reduction in income, could impact your loan approval."

In some cases, you might involuntarily lose your job before closing on a home. If this is the case, communicate with your lender as soon as possible. They can advise you on how to proceed — and what your new employment situation can mean for your loan.

"Losing your job involuntarily may also make it harder to qualify, although this may be out of a buyer's control," says Brian Shahwan, a mortgage broker at William Raveis Mortgage. "The general rule of thumb is before making any changes to your credit, asset, or employment situation, speak with your loan officer first." 

Make a big purchase or rack up credit card debt 

Your debt-to-income ratio is another big influencer in the mortgage process. To keep yours steady as you head toward closing, avoid charging anything to your credit cards, as this increases your debt. 

You should also avoid big purchases — even if they come out of savings. Remember: Lenders will be looking at your savings accounts and assets, as they want to know that you have backup funds if your financial situation should change.

"When you are committed to buying a home, the last thing you want to do is make a big purchase that could impact your personal financial picture," says Elizabeth Dodson, co-founder of HomeZada, a home management platform. "Every move you make between the offer and closing will be closely scrutinized." 

Fail to respond or provide documents

Finally, the last big faux pas you can make is "ghosting" your lender, Beeston says. More than likely, your lender is going to have some questions and need additional documentation before it can close your loan. If you fail to provide this — and quickly — it could delay or even throw off your loan altogether. 

"Do not ghost the lender," Beeston says. "If your lender is sending you documents to sign, do not delay."

If you want to keep your quoted mortgage rate and ensure you qualify for your loan, the best thing you can do is stay in close contact with your loan officer throughout the entire process. As Shahwan puts it, "Keeping an open line of communication with your loan officer is the best way to safeguard yourself to ensure the deal goes as smoothly as possible."