Too many homebuyers make little mistakes like buying things for their new home or changing jobs before they close the deal. There is still a little work to be done after signing the contract and before your move. Here are some things to avoid during the home buying process to assure your transaction goes as smoothly as possible:

• Don't make any major purchases. It's best to avoid making major purchases like furniture, cars, appliances, vacations, etc. until after the closing. Any financing, including in-store promotions or major credit cards, could jeopardize qualification status. Using cash to purchase big items can also create problems, as this reduces funds available for closing or reserves.
• Don't change jobs. Job history is another important part of the qualification process. Generally, changing jobs will not affect your ability to qualify for a mortgage loan - especially if it is an upward move. However, moving to a new job during the loan approval process could affect your qualification status, especially if there's a change to your type of employment or compensation.
• Don't move money around. As your loan application is reviewed, you will likely be asked to provide statements for various assets. To eliminate potential fraud and meet investor requirements, a thorough paper trail is typically required to document all funds used in a real estate transaction. Changing banks or transferring money could make it difficult to document funds as required.
• Don't disregard requests for information. In order to process your loan quickly and accurately, certain documentation will be required. This typically includes your paystubs, W2s, tax returns, bank statements, etc. Failure to submit documents quickly can delay loan commitment and closing. Typically, the quicker you provide requested information, the sooner you can close.
• Don't give a deposit directly to the seller. Your good faith deposit belongs to you, not to the seller, until the deal closes. If a FSBO, your seller may not know that your good faith funds are a credit for you at closing. Find an attorney or other neutral party who can hold the deposit until you close on the purchase. It's strongly recommended you work with a qualified Realtor when buying.