You're here because you're either considering homeownership or already on the exciting path towards it.. and you're in the right place!
 
Getting prequalified for a mortgage is an exciting first step toward homeownership — but it’s not the finish line! Once you’re under contract and moving through the underwriting process, your lender relies on the financial information you originally provided. Any sudden changes along the way can slow things down, require extra documentation, or even put your loan approval at risk. 

Here are 10 roadblocks that can put the brakes on your loan deal:

Avoid making any major purchases.
Buying furniture, appliances, a new car, or anything that requires new credit can raise your debt‑to‑income ratio and trigger additional underwriting reviews.
Hold off on quitting or changing jobs. 
Lenders need to verify that your income is stable and reliable. Even a positive career move can cause delays because it requires new employment and income verification.
Make sure all your bills are paid on time. 
On‑time payments are essential. A single late payment during underwriting can drop your score unexpectedly.
Avoid opening or closing any credit accounts.
New credit lines lower your score. Closing accounts reduces your available credit, raising your utilization. Either can impact approval.
Respond promptly to your lender’s questions.
Fast communication helps underwriters clear conditions quicker. Delays = stalled approval.
Prevent unnecessary credit checks during this time.
Every hard inquiry must be explained and may reduce your score.
Keep your current bank accounts unchanged. 
Avoid moving money around. Underwriters track your financial activity closely.
Avoid making large deposits into your bank accounts.
Unusual deposits require sourcing and may pause underwriting until documentation is provided.
Hold off on taking out or co-signing new loans.
This increases your liabilities and can disqualify you from the mortgage you were originally approved for
Submit all required documentation as soon as possible.
Underwriting runs on deadlines. When your lender requests documents—bank statements, pay stubs, explanations, verification letters—they’re usually needed quickly.


So, what's the best route to take when going through the prequalification process?

  • Keep your financial situation steady while your loan is in process.
  • Hold off on making any financial changes for now.
  • Look forward to celebrating once you’re officially a homeowner!
It’s important to avoid any of the roadblocks listed above and keep your financial world as steady as possible during the mortgage approval process. Even small changes can create big delays, so always check with your mortgage lender before making any financial moves while you’re buying a home. We’re here to guide you every step of the way!
 
Stay prepared every step of the way — download our 10 Roadblocks to Avoid During Mortgage Approval printable PDF and keep it handy throughout your home‑buying journey.
 

Mortgage FAQs:

Yes. Prequalificiation is not a guarantee. If your credit score drops, your income changes, you take on new debt, or your bank activity raises red flags, your lender may have to reevaluate your eligibility.
A “large deposit” is anything outside your normal paycheck or routine activity. Underwriters must verify the source of these funds. If you can’t document where it came from, your approval could be delayed.
No. Typically soft credit checks (like those you pull yourself) don’t affect your credit score. But new hard inquiries from applying for loans or credit cards do—so avoid those until after closing.
Lenders must verify your income, debts, assets, employment, and financial history. This protects both you and the lender by ensuring you're qualified for the loan. If something seems redundant, it’s usually required by federal guidelines.
Send them as quickly and clearly as possible. Many delays happen simply because buyers take too long to provide updated statements or explanations. Fast responses = faster approval.
Not yet! Even after your initial approval, lenders may re-check your credit and financials before closing. New debt or large purchases can change your approval status at the last minute.
Mortgage approval depends on the financial snapshot you provided. Any sudden changes—good or bad—require the lender to re-evaluate your profile. Stability helps ensure a smooth, on‑time closing.
Discuss it with your lender first. Transfers aren’t automatically bad, but they may require extra documentation, which can slow down the process.