5 Money Mistakes That Can Derail Your Deal

You found the house. Your offer is accepted. The ball is rolling. It feels like you’re in the home stretch—but hold up. There’s a stretch of time between getting under contract and finally closing, and during that window, your financial life needs to stay as boring and stable as possible.

Why? Because your lender is still watching. They’re not just reviewing your financials once—they’re keeping tabs until the very last signature is on that closing paperwork. A seemingly small change can raise red flags or delay (and even cancel) your approval.

So, let’s talk about what not to do while buying a home—because it could be the difference between smooth sailing and a total derailment.

1. Don’t open new credit accounts or finance big purchases

Trust us—this is not the time to upgrade your car, buy that dreamy new couch, or open a store credit card just to “save 20% today.”

Why? Because any new debt or hard inquiry can affect your credit score or debt-to-income ratio, which are two of the biggest factors lenders use to finalize your loan. Even something minor like a new cell phone payment plan could change the math enough to spook your lender.

Bottom line: Sit tight. Once you’ve closed, go wild at the furniture store—but not before.

2. Don’t quit or switch jobs

We get it—sometimes new job opportunities come out of nowhere, and the timing feels right. But if you’re in the middle of a home purchase, this can seriously complicate your loan.

Lenders want to see consistent, reliable income. If you change employers—especially if your pay structure changes (like switching from salary to commission or self-employed)—it can throw off your loan approval or require re-verification and more documentation, which can delay closing.

If a job change is unavoidable, talk to your lender immediately to get in front of any potential issues.

3. Don’t shuffle large sums of money between accounts

Need to move savings from one bank to another? Planning to consolidate funds? That might make sense for your own tracking, but it can cause unnecessary delays during underwriting.

Lenders need a clear paper trail for any funds you plan to use for your down payment, closing costs, or reserves. Moving large amounts of money around makes it harder to verify—and harder for them to say yes.

Play it safe: Keep your accounts and balances steady until closing. If you have to move money, ask your lender how to document it properly.

4. Don’t deposit large amounts of cash

This one surprises people all the time. You might think, “Cash is king, right?” But when it comes to mortgage underwriting, cash is a problem—not a perk.

If you deposit a large amount of physical cash (like a gift or side income), the lender likely won’t be able to verify it—and if they can’t verify it, they can’t count it. That means it can’t be used toward your purchase.

Pro tip: If someone is gifting you money for the home, make sure it’s done properly—through documented transfers and gift letters, not through a stack of bills.

5. Don’t ghost your lender or escrow team

You’ll be asked for paperwork. Then more paperwork. Then maybe even the same paperwork again (yep, really). It can feel repetitive, but it’s all part of the process.

Delaying your responses—or ignoring requests—can hold up your file, delay your closing date, or in worst-case scenarios, cancel your loan approval entirely.

Our advice: Treat your lender’s emails and calls like VIP messages. Respond quickly, ask questions when you're unsure, and keep the lines of communication open.

✅ The Bottom Line: Keep It Steady Until You Get the Keys

It might sound dramatic, but it’s true—when it comes to home buying, boring is better. The more predictable your finances are during escrow, the more confident your lender will be in giving you the green light.

And if you’re ever in doubt—ask first. Your lender wants to help you succeed, not punish you. A quick “Hey, is this okay?” can save you a whole lot of stress down the road.

Planning to buy a home soon? Let’s connect early so you’re prepared every step of the way—from budgeting and pre-approval to keys in hand.