Most buyers think the mortgage process is done once they’re under contract.
In reality, this is when lenders start watching everything closely.
Here are 3 things that can derail a mortgage approval fast:
1️⃣ Financing anything new
Cars, furniture, appliances. Even “0% financing” still adds a monthly payment that changes your debt-to-income ratio.
2️⃣ Large unexplained deposits
Lenders need a paper trail for every dollar used in the transaction.
3️⃣ Changing jobs or income structure
A new job, commission change, or employment gap can delay or stop the loan.
The safest rule during the process:
If you’re thinking about making a financial move, ask your lender first.
It can save your entire deal.
— If we haven’t met yet, I’m Richard Sarey, your go-to mortgage broker in Frisco TX
#MortgageTips #MortgageAdvice #HomeLoanTips #MortgageHelp #TXMortgageBroker • mortgage mistakes after going under contract
