4 Common Missteps That Can Delay Your Pre-Approval
Buying your first home should be exciting—not stressful. At Lyons Mortgage Services, we work with first-time buyers every day, and we know how easy it is to make small, innocent mistakes that can slow down (or even jeopardize) your home purchase.
To help you move through the mortgage process confidently, here are four of the most common mistakes first-time buyers make—and how to avoid them with guidance from the Lyons Mortgage Services team.
1. Opening New Credit Cards (Even If the Rewards Look Great)
Furniture stores, big-box retailers, and online brands often offer tempting discounts if you open a credit card on the spot. But during the mortgage process, doing so can cause problems.
Opening a new credit line can:
Lower your credit score
Increase your debt-to-income ratio
Raise concerns during underwriting
At Lyons Mortgage Services, we advise buyers to wait until after closing to open any new credit accounts—even if it feels like a great deal.
Lyons Tip:
If you're unsure whether a financial move will impact your approval, ask your Lyons loan officer first. One quick conversation can save you weeks of delays.
2. Allowing Large, Unexplained Deposits to Hit Your Bank Account
Lenders must ensure that your savings and income are legitimate, stable, and fully traceable. When a large or unusual deposit appears, it can slow down the underwriting process because we must document where it came from.
This includes:
Cash deposits
Transfers from friends or family
Side hustle income without documentation
What Lyons Mortgage Services recommends:
Before making any major deposits, reach out to your loan officer. We’ll tell you what paperwork you need—or whether it’s best to wait until after closing.
Transparency and planning make the process smooth and stress-free.
3. Not Getting Pre-Approved Before Shopping for a Home
It’s common for first-time buyers to start browsing homes online before they understand their true buying power. But without a pre-approval from Lyons Mortgage Services, you could face:
Disappointment from touring homes outside your budget
Pressure when you find the right home but can’t make an offer quickly
Miscalculations about what you can comfortably afford monthly
A Lyons Mortgage Services pre-approval gives you:
A verified price range
Confidence when house hunting
Immediate credibility with sellers and real estate agents
Lyons Tip:
Get pre-approved before you fall in love with a home. It will save you time, stress, and potential heartache.
4. Changing Jobs in the Middle of the Mortgage Process
A new job offer is exciting—but during the mortgage process, it can complicate things. Lenders must verify income stability, and a sudden change may alter how your income is calculated.
At Lyons Mortgage Services, we evaluate job changes on a case-by-case basis. Some transitions are perfectly acceptable, while others may require additional documentation or time.
What we recommend:
If possible, postpone any job change until after closing.
If it can’t wait, talk to your Lyons loan officer immediately so we can evaluate your options and guide you through the best path forward.
Final Thoughts: Lyons Mortgage Services Is Here to Guide You
The mortgage process has many moving pieces, and first-time buyers understandably make mistakes along the way. But with the right support, you don’t have to navigate it alone.
At Lyons Mortgage Services, our goal is to help you avoid these common pitfalls, get approved smoothly, and step into homeownership with confidence.
Whether you're ready to get pre-approved or simply have questions about the process, our team is here to help every step of the way.
👉 Ready to get started? Contact Lyons Mortgage Services today.
We’d be honored to help you unlock the door to your first home.
