Prequalified? 6 key DON’Ts

Prequalified? 6 key DON’Ts

After you’re pre-qualified for a mortgage, here are 6 key DON’Ts:

Being pre-qualified for a mortgage means the lender has determined you’re financially qualified for a loan up to a certain amount of money. It’s an important part of the purchasing process because it lets sellers know you’re a bona fide buyer.

So once we get you pre-qualified, it’s important to not make any major changes to your financial situation. Specifically, DON’T do the following:

DON’T make any major purchases–a car, furniture, jewelry, appliances, a boat, etc.
DON’T apply for any new credit–even if they say you’re pre-approved.
DON’T pay off charges or collections. First, check with us.
DON’T make any modifications to your credit profile.
DON’T change any bank accounts.
DON’T make any unusual deposits to your bank accounts, or move money from one account to another.
We’d love to answer any questions you may have about pre-qualifying for a mortgage, or get you started in the pre-qualification process. Just call or email any time.


Rebecca Richardson is a Charlotte mortgage banker who excels at helping clients choose the appropriate mortgage strategy and enjoys demystifying the financial process on her blog at She can be reached by email or at 704.488.8883.