The list
Your approval is a snapshot, and it is re verified shortly before closing. These are the changes that most often cause problems.
- Financing furniture or a vehicle, which adds a monthly obligation to your debt ratio.
- Opening or closing credit accounts.
- Changing employers, changing to commission pay, or becoming self employed.
- Depositing cash or unexplained transfers, which underwriters must source.
- Paying off a collection or a debt without telling your loan officer first.
If something has to change
Life does not pause for a mortgage. If a job offer or a family gift appears, tell your loan officer before it happens rather than after. Almost everything can be structured. Very little can be unwound.