10 things you should avoid doing before closing

Congratulations!

So you’ve been pre-approved for your first mortgage loan, and you’ve found the perfect home. Your offer was accepted, the home inspection passed and your loan officer locked you in at a favorable rate. You likely think you’ve all but sealed the deal.

You won’t officially be a homeowner for another 30 days, give or take, so hold your horses. Because guess what? Your lender will check your credit again just before your closing date, prior to granting you the funds. Your lender might also need additional information from you while processing your loan application. That means that keeping your finances stable and being readily available to answer any questions over that 30-day time period is pretty important.

Here are 10 things you should avoid doing before closing your mortgage loan.

Do not:

Buy a big-ticket item: a car, a boat, an expensive piece of furniture
Quit or switch your job
Open or close any lines of credit
Pay bills late
Ignore questions from your lender or broker
Let someone run a credit check on you
Make large deposits to your accounts outside of your paycheck
Cosign a loan with anyone
Change bank accounts
Take out any payday loans

Depending on your personal situation, you might want to take some time to get comfortable with your new mortgage payment — and after that, it’s probably okay to splurge on that new kitchen table, go on a long vacation or open a new line of credit. But doing so before you close could potentially put getting your home in jeopardy.