When you're looking to buy a house, there are a few things that will happen before closing. The most important one is getting approved for the mortgage. You have to make sure that your credit score and income are high enough to qualify, but even once you've gotten approval and signed the contract, there are still things you shouldn't do until after closing. If you're wondering what exactly these things are and how they could affect your loan application, read on!

Don’t Make Any Big Purchases Before You Apply for the Loan

While this might seem obvious, it's a common mistake. If you're applying for a mortgage, don't buy anything big: a car or house, pay off credit card debt, make any large investments (stocks or bonds), or buy expensive jewelry or clothes. Of course, there are exceptions to every rule—if you've had your eye on that red Ferrari since before you started looking at houses and now it's finally on sale—but don't make any unnecessary purchases until after the loan has been approved by your lender and finalized with the closing agent.

Don’t Change Jobs Before Applying for a Mortgage

If you're looking to buy a house, you probably want to get it done as soon as possible. But even though buying a home is exciting and you want everything to be perfect, some things can cause delays or financial issues.

One of those things is changing jobs before applying for a mortgage. If you're planning on applying for one and your plans change, there are several reasons why it's best not to do so until after your application has been approved.

For starters, if the lender doesn't know where you work or how much money is coming in from each job (because neither has been stable long enough), they may require more information from both current and past employers than usual—and that could mean higher interest rates or larger deposits being required from applicants like yourself who are jumping from one career path into another quickly without having any income guarantees in place yet!

Don’t Co-sign on a Loan With Anyone Else While Applying for a Mortgage

This can be potentially risky for both parties, as the person you are co-signing with will likely not be able to pay off the debt if they default on it. You would then be responsible for paying back the loan yourself, which can damage your credit score and make it harder to get approved for future financial products such as loans or credit cards.

Don’t Pay Off Your Bills in Full After You’ve Applied but Before Closing on the Loan

If you pay off your bills in full, it may lower your debt-to-income ratio and get you a better interest rate. However, this can also affect your credit score—which is often calculated based on how much debt people have compared to their income. This is because the more money someone has available to borrow (the lower their DTI), the better they're likely to be at paying back loans efficiently.

Conclusion

Don't get too worried about what might happen if you do something wrong when applying for a mortgage. A lot of people make mistakes when applying for loans and don't even realize it until they close on the loan and find out their credit score has dropped or they aren't approved at all. You may think that one little slip-up won't matter much, but it could end up costing you thousands of dollars in interest over the life of your loan! If you want to avoid these potential errors, stick with what we've outlined here: don't make any big purchases before applying; don’t apply for credit cards or lines of credit; don’t change jobs; don't co-sign on loans with anyone else while applying (if possible); and finally, pay off bills in full before closing on your home purchase—or at least wait until after closing before doing so!