What NOT to Do When You're Under Contract on a Home in Arizona

Buying a home in Arizona is an exciting milestone especially once you're officially under contract. But before you start celebrating with new furniture or that shiny new SUV, it’s crucial to stay financially steady. Certain decisions can jeopardize your loan approval and potentially derail your closing.

As a trusted Arizona realtor, I’m here to walk you through what not to do once your offer has been accepted:

Don’t Open New Lines of Credit

That tempting offer from your favorite store? Skip it for now. Opening a new credit card even with a low balance can impact your credit score and debt-to-income ratio, which your lender monitors closely up until closing.

Avoid Big Purchases

Financing a car, buying expensive furniture, or even splurging on appliances can affect your financial profile. Wait until after closing to make any large purchases.

Don’t Change Jobs Without Talking to Your Lender

Even if it's a career upgrade, a job change during escrow can delay your loan or lead to reevaluation of your income stability. Always consult with your lender first before making a move.

Refrain from Large, Unexplained Deposits

Lenders need a clear paper trail for all incoming funds. If you’re planning to deposit a large sum like a gift from a family member talk to your loan officer about how to document, it properly.

The Bottom Line

This is a critical time in your home buying journey, and avoiding these mistakes can make the difference between a smooth closing and a stressful delay.

Whether you're buying in Phoenix, Scottsdale, Chandler, Gilbert, or anywhere in the Valley, I’m here to guide you from contract to close with confidence.

Need advice or have questions about your specific situation? 📞 Call me today at +1 480-298-5551 for a free consultation let’s make sure your Arizona home purchase stays on track.