09/24/2026
🏠 10 Common Pre-Approval Mistakes
1. Shopping for a home before getting pre-approved
You may fall in love with a home before knowing what you can realistically afford.
2. Making a large purchase 🚗
Buying a car, furniture, or other big-ticket items can change your debt-to-income ratio.
3. Opening new credit accounts 💳
New credit can affect your credit score and potentially your mortgage approval.
4. Closing credit cards
Even if you don't use them, closing accounts can change your credit profile.
5. Changing jobs unnecessarily 💼
Employment and income stability can be important during the mortgage process.
6. Moving money around without documentation 💰
Large deposits or unexplained transfers may require additional documentation.
7. Taking on new debt
Personal loans, co-signing for someone, or financing purchases can impact qualification.
8. Ignoring credit until closing
Getting pre-approved doesn't mean you're finished. Your credit and finances may be reviewed again.
9. Using all your savings for the down payment
Remember to plan for closing costs, moving expenses, repairs, and emergency reserves.
10. Not telling your loan officer about changes
When in doubt, ask before making a major financial move.
👉 A little planning today can help prevent big problems later.
Richard Button
Realtor | Loan Officer
DRE # 01300896 | NMLS #2145858
📞 562-843-6462
📧 [email protected]
