FAQ: Can I make a big purchase before closing on my home?

Buying a home is exciting, and once you’re under contract, it’s natural to start thinking about furniture, appliances, upgrades, or even a new car. But one of the best things you can do before closing is keep your finances as stable as possible.

Many buyers don’t realize that getting preapproved doesn’t mean the mortgage process is finished. Before your loan is finalized, lenders may review your credit and financial profile again to confirm that nothing significant has changed.

Financing big-ticket items, increasing your credit card balances, or opening new credit accounts can affect your debt-to-income ratio, credit score, or overall qualifying profile – even if you were already approved.

The period between preapproval and closing is an important time to avoid unnecessary financial changes and stay focused on completing the purchase of your new home. Keeping your finances consistent can help prevent delays and make the final steps of the mortgage process go more smoothly.

If you’re considering a major purchase before closing, reach out to your loan originator first. They can help you understand how that decision may affect your loan and what steps are best for your situation.