A lot of buyers think that once they’re under contract, the hard part is over.
Offer accepted. Check.
Inspection done. Check.
Now it’s just a waiting game until closing, right?
Not exactly.
The truth is, getting under contract is a huge step, but your mortgage is not on autopilot yet. In many cases, this is actually the stage where lenders are paying even closer attention to your finances, employment, and bank activity.
That means one small move that seems harmless to you can create a major issue for your loan approval.
I’ve seen buyers make simple mistakes during this stage, not because they were careless, but because nobody clearly explained what not to do.
So if you’re under contract right now, here are 3 of the biggest mortgage mistakes to avoid.
1. Opening new credit or financing anything
This is one of the most common mistakes buyers make during the mortgage process.
You get under contract, start thinking ahead, and suddenly it feels tempting to shop for the new house. Maybe it’s a couch, a dining table, appliances, or even a car. Sometimes buyers assume it’s fine because the purchase is small or because the financing says “0% interest.”
But from a mortgage standpoint, that new payment can still hurt you.
When you finance something new or open a new credit account, it can affect your debt-to-income ratio, your credit score, or both. And even a small change can make a difference when your loan is being reviewed.
What surprises a lot of people is that it doesn’t have to be a huge purchase to cause a problem. A new monthly payment is still a new monthly payment.
So during this stage, the safest move is simple: do not open new credit, do not finance furniture, and do not make any big purchases without checking with your lender first.
2. Making large bank deposits with no paper trail
This one catches a lot of buyers off guard.
From your point of view, depositing money into your bank account may feel completely normal. Maybe a family member gave you money to help out. Maybe you sold something for cash. Maybe you moved money around and didn’t think twice about it.
But lenders are required to source funds used in the transaction. In other words, they need a clear paper trail showing where the money came from.
If a large deposit shows up and there’s no documentation behind it, it can raise questions and slow everything down. In some cases, it can create bigger problems if the funds can’t be properly explained.
That doesn’t mean every deposit is bad. It just means it needs to be documented correctly.
This is why it’s so important not to move money around casually during the mortgage process. Even something that seems harmless can turn into extra conditions, more paperwork, and unnecessary stress.
If you’re planning to deposit money, transfer funds, or receive help from family, talk to your lender first so it can be handled the right way from the start.
3. Changing jobs or income structure
This is a big one.
A lot of buyers assume that getting a new job is always a positive thing. And in real life, it often is. A better opportunity, better pay, better schedule. Totally understandable.
But during the mortgage process, a job change can create complications.
Lenders look closely at income stability and consistency. So if you switch jobs, move from salary to commission, become self-employed, reduce your hours, or have any gap in employment, your lender may need to re-evaluate the file.
Even if the new job is a great move for your future, timing matters.
The same goes for changes in how you get paid. If your income structure changes during underwriting, it can affect how your income is calculated and whether it still qualifies the same way.
That doesn’t automatically mean your loan will be denied, but it can absolutely cause delays or create issues that were not there before.
Before making any employment change while under contract, have a conversation with your lender first. A quick call can save you a lot of stress later.
Why this matters more than buyers realize
Once you’re under contract, it’s easy to feel like you’re almost at the finish line.
And you are close.
But this part of the process is also when buyers need to stay the most steady. Think of it like this: your lender approved you based on the financial picture you presented at the start of the loan process. If that picture changes before closing, the loan may need to be reviewed all over again.
That’s why consistency is everything.
No surprises.
No big money moves.
No new debt.
No major job changes without checking first.
The safest rule to follow
If you are thinking about making any financial move while under contract, talk to your lender before doing it.
That includes:
buying a car
financing furniture
opening a new credit card
moving large amounts of money
depositing cash
changing jobs
switching pay structure
It is always better to ask first than to fix a problem later.
Final thoughts
Being under contract is exciting, and it should be. You’re getting closer to the finish line.
But this is not the time to make financial changes on your own without guidance.
The mortgage process is all about stability, documentation, and consistency. The buyers who make it to closing the smoothest are usually the ones who keep everything as steady as possible until the keys are in their hands.
So before you change anything, talk to your lender first. That one conversation could save your entire deal.
Mainstay Mortgage Corp 