You've found a home that you love, and the seller has accepted your offer. However, it isn't a done dealuntil you sign the closing documents.

In the meantime, here are a few things that our real estate agents recommend that you avoid during the closing process. While some of these don'ts may result in a higher interest rate, others can potentially sabotage the purchase of your new home.

1. Don't Take Out a New Loan or Credit Card
   If you know that you'll need to buy furniture or appliances for your new home, you might be tempted to take out a credit card to help pay for them. However, it's essential to wait until after you've closed on your new home to take on any new debt. Increasing your debt load can increase your debt-to-income ratio, potentially increasing your mortgage interest rate or sacrificing your loan entirely if you were already on the edge in terms of qualifying for the mortgage. Opening a new loan or credit card will also generate an additional inquiry on your credit report, which can lower your credit score.

2. Avoid Touching Your Credit Report
   While you're waiting on your mortgage to close, don't touch your credit report in any way. Don't dispute incorrect information, don't lift or add a credit freeze, and don't add inquiries to your report. All of these things will cause changes to your credit report. If your lender detects changes to your credit report, they'll have to pull your credit again and generate new closing documents. This will lengthen the amount of time it takes for you to close on your home.

3. Steer Clear of Co-Signing Loans for Friends or Family Members
   If you have good credit, your friends or family members might ask you to co-sign for their loans. Don't even think about co-signing until your mortgage closes. Even if your friend or family member plans to make the loan payments themselves, your lender will view the debt as yours. This will impact your credit and ability to qualify for your mortgage.

4. Don't Make Unexplained Deposits to Your Bank Account
   Now isn't the time to deposit any cash that you've been hoarding to your bank account. Make sure that you're able to prove the source of any deposits that you make during the closing process. This doesn't mean that you can't add cash to your account to beef up your emergency fund or boost your down payment. Just make sure you can prove where the money came from. For example, if you sold an extra car and the funds are from the sale, have the bill of sale on hand to show your loan officer. Your lender wants to make sure that you're not borrowing money to assist with the purchase of your home.

5. Don't Quit Your Job or Reduce Your Income
   If you plan to quit your job or reduce your household income, wait until your mortgage has closed. Your lender will require a new application that reflects the change in your household income. Depending on your finances, such a change may jeopardize your mortgage completely. As long as you have a steady work history, changing employers for a job with a comparable salary shouldn't be a huge issue. You'll need to prove that your income is the same or higher and be able to provide employment verification to your lender.

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