05/07/2026
It happens the same way every time...💸
You get pre-approved. Your offer gets accepted. You're officially under contract on your dream home. You thinklits'a done deal.. But it's notl
Your mortgage lender is monitorina your finances all the way until closina day. And these 3 mistakes can derail vour home loan.
1️⃣ Opening a new line of credit.
That 0% financing on furniture? The new credit card? The appliance store promo? DON'T DO IT. New credit inquiries affect your credit score and debt-to-income ratio. Most lenders run a final credit check before closing. One new account could jeopardize your mortgage approval.
2️⃣ Making a large deposit without documentation. Getting gift funds for closing costs is common when buying a house. But lenders require a gift letter, bank statements and a clear paper trail. Large unexplained deposits can delay or even cancel your closing.
3️⃣ Changing jobs before closing. Switching emplovers, going from salary to commission, or becoming self-emploved during escrow can reset your entire mortgage approval process.
Even a "better"' job can complicate underwriting.
If you're under contract on a home, here's the rule:
☑️ Don't open new accounts.
☑️ Don't finance furniture or a car.
☑️ Don't move large amounts of money.
The period between contract and closing is about financial stability, not big moves or making changes.
📩 Save this post if you're thinking about buying a home in Montreal or Laval, Qc in 2026, or if you're currently under contract. It could protect your home purchase from falling apart before you even get to the closing table!
