What NOT to Do After Applying for a Home Loan in Southern Maryland

Your mortgage application has been approved, and you feel like jumping for joy, knowing you’re now one step closer to moving into your new home! But before getting too carried away with celebrating, it’s important to know what to not do after applying for a mortgage loan. The time between mortgage approval and closing day is critical. Let’s explore what not to do after applying for a mortgage so that you can sail smoothly through to closing day.


Don’t Quit Communicating with Your Lender

Open and honest communication with your mortgage loan officer is essential throughout the home loan process. Avoid withholding information or ignoring their requests for documentation. Clear communication can prevent unnecessary delays and help your loan officer guide you effectively through potential roadblocks. Ignoring messages or failing to provide required documents promptly can hinder the progress of your application.


Don’t Make Any Major Purchases

It may be tempting to splurge on a spending spree with your credit cards now that your mortgage is approved. Fight the urge. Making major purchases like buying expensive furniture, appliances, or cars can significantly impact your debt-to-income ratio. Even if you’re enticed by a zero-interest deal or a retail store discount, hold off until after you’ve closed on your new home. Your lender will double-check your credit again before finalizing the loan, and drastic changes to your debt could cause them to reassess and possibly withdraw the mortgage approval.


Don’t Change Jobs or Income

Having stable and reliable income is a top priority for lenders. Once they’ve assessed and approved your current employment situation, any changes could raise uncertainty. Avoid switching jobs or even taking on freelance work without checking with your loan officer first. Even small income fluctuations could require more documentation and delays.


Don’t Deposit Large Sums into Your Accounts

Out-of-the-blue deposits into your bank accounts will raise eyebrows. Lenders will scrutinize any large sums to check the source. If you’re receiving gifts from family members for your down payment and closing costs, that fact should be disclosed upfront. To avoid headaches, talk to your loan officer before putting any big deposits into your accounts.


Don’t Neglect Your Credit Score

You worked hard to get your credit score in tip-top shape for the mortgage application – don’t undo your good work! Stay diligent about paying all bills on time, keeping balances low, and avoiding new credit checks. A dip in your score before closing could mean having to renegotiate your interest rate or loan amount.


The time between mortgage approval and closing passes quickly. Avoid these missteps, and you’ll be ready to celebrate when the big day finally arrives! With a trusted lender guiding you, the process will be smooth sailing. Don’t hesitate to ask your loan officer questions or express any concerns – they are there to make your home ownership dreams come true!


If you’d like to get pre-approved for a mortgage, you can do that here. I’d also be happy to recommend some experienced, local Realtors to help you in the homebuying process. Just reach out to me — you can find all of my contact information at

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NMLS ID#: 71222

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Jeffrey Halbert - First Home Mortgage
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Dunkirk, MD 20754

(301) 327-5803

This is not a commitment to lend. Terms and conditions of programs, products and services are subject to change. All loans are subject to credit approval and property appraisal. Certain restrictions may apply on all programs. First Home Mortgage Corporation of America, First Home Mortgage Services, and First Home Mortgage Company of Maryland are d/b/a's of First Home Mortgage Corporation. First Home Mortgage Corporation is licensed in Connecticut, Delaware, District of Columbia, Florida, Georgia, Indiana, Kentucky, Maine, Maryland, Massachusetts Mortgage Lender and Broker (Lic. #MC71603), Michigan, New Hampshire, Licensed by the New Jersey Department of Banking and Insurance, North Carolina, Pennsylvania, Rhode Island Licensed Lender and Broker, South Carolina, Tennessee, Vermont, Virginia, West Virginia. Equal Housing Lender. First Home Mortgage Corporation NMLS ID #71603 ( Privacy Policy.