Pre-approved for a Mortgage? Your Checklist of Do’s and Don’ts

Pre-approved for a Mortgage? Your Checklist of Do’s and Don’ts

October 21, 2014  |  Real Estate

Okay, so you are now done with the tedious process of homebuying – choosing a Realtor and a Lender. And finally, you have singled out among several choices in your home (window) shopping the home of your dreams! The deal has been set with your amazing real estate team in negotiating and closing the deal for you. Your future is ready and you just can’t wait to have it started. Ah, the sweet life!

Now breathe.

Because after all the hustle and bustle of homebuying comes the calm after the storm…or NOT. If you think all you have to do now is sit back, relax, and enjoy the ride while waiting for your loan to close, you can never be more wrong.

It’s not all about sitting back and going with the flow. There are some pitfalls that if not careful, can compromise you during the loan process. So here’s a quick checklist of “do’s” and “don’ts” for you:

After getting approved for a mortgage, here are the things to keep in mind:


  • Be timely with submissions of requests for documentation.
  • Relay to your lender any concerns or questions you might have as soon as possible.
  • Be a quick but smart decision maker. You can do this by knowing your financial status, financial goals, and setting realistic timeline for yourself
  • Continue with on time payments of rent or mortgage.
  • Stay current on all your other existing accounts. Simply put, be a good payer and account holder.
  • Even if you have been approved for a loan, try not to make any drastic changes in your lifestyle, especially with your financial status. Continue to use your credit as normal as possible and always keep savings in mind.
  • Prep yourself with loads of information that is useful for you as a homebuyer and mortgage payer. Research, read, consult and ask. Be proactive, be diligent.


  • Even after getting a loan pre-approval, refrain from making major purchases, such as a car, jewelry, and appliances.
  • Do not pay off any charges or collections, unless you have been directed by your loan officer.
  • Do not apply for a new credit.
  • Do not make any changes as of yet to your credit profile and bank account/s.
  • Refrain from moving your money from one account to another, or making unusual or rather large deposits into your bank accounts. If you do have to make large deposits, be prepared to justify such actions. Always consult with your lender.

Getting a loan and getting approved are both collaborative processes with your loan officer. Aim to make your loan closing as stress-free and hassle-free as possible. And believe it or not, an open communication with your lender is crucial. If having a great relationship with your Realtor brought you to your dream home, then having a positive, open relationship with your lender is just as important to make sure that your loan process ends on a good note too.


Are you in the market for a home to buy? The Blake Team is a full-service real estate company offering the most comprehensive real estate services in the market. The Blake Team offers foreclosures/HUD, short sales, and luxury properties. 

Lisa Blake, CEO & Founder is one of the top agents in Colorado. She specializes in working with Buyers and Sellers, and has partner lenders that can work with buyers to get pre-qualified for a mortgage. 


Cover photo: Courtesy of Shutterstock user Stuart Miles


About the author

The Blake Team is a full-service Real Estate team based in Aurora, Colorado specializing in working with Buyers & Sellers, foreclosures/HUD, short sales, and luxury properties. A team with years of experience and an impressive success rate that made it the No.18 real estate brokerage in the nation, as well as the No.1 Keller Williams agent in Colorado led by CEO & Founder Lisa Blake. The Blake Team is your No. 1 choice for getting your dream home!