Ep. 106 — 7 Things NOT to Do After BC Mortgage Approval & the Cowichan Land Title Ruling One Year Later

# 7 Things You Should Never Do After Your BC Mortgage Is Approved

Your BC mortgage is approved and you’ve removed your subjects. It feels like the hard part is over. But you’re not at the finish line yet. Until your purchase completes and you receive the keys, changes to your finances can still affect your mortgage approval.

In Episode 106 of *The Real Deal Pod*, Fraser Valley Realtor Allister Carrington and BC mortgage broker Geoff Lee explain seven mistakes buyers should avoid before closing.

** Your Mortgage Approval Isn’t the Finish Line

A lender can review your financial situation again before your completion date. Taking on new debt could affect your qualification. Changing jobs can also create problems. Even moving your down payment between accounts may lead to additional questions and paperwork. The safest approach is simple: **keep your finances boring until after completion.**

** 7 Mistakes to Avoid Before Closing

In this episode, Allister and Geoff discuss:

* Financing a new vehicle before completion
* Buying furniture or making large purchases on credit
* Taking on new monthly debt
* Changing jobs or becoming self-employed
* Moving your down payment between bank accounts
* Making changes that affect your credit
* Waiting too long to organize a gifted down payment

These decisions may seem harmless once you have an approval. However, they can change the financial picture your lender originally approved.

** Protect Your BC Mortgage Approval

New debt can have a significant impact on your borrowing power. A new car payment, credit card balance, or financing plan could change your debt ratios. That may create a problem when your lender completes its final review. Job changes can also affect an approval. This becomes especially important if you move from salary to commission or become self-employed.

Your down payment matters too. Lenders need to confirm where your money came from. Moving funds between accounts can make that process more complicated. If family members are gifting money from overseas, additional requirements may apply. Planning ahead can help avoid delays before closing.

** The Cowichan Land Title Discussion

Allister and Geoff also revisit the Cowichan land title ruling one year later. They look at new polling on public confidence in BC property ownership. They also discuss the difference between the legal ruling and how people understand it. The conversation explores how news coverage and social media can shape public opinion about property rights in BC.

** What You’ll Learn

* Why mortgage approval doesn’t mean your financing is completely finished
* When the risk period ends for a BC homebuyer
* How new debt can affect your mortgage qualification
* Why changing jobs before closing can create problems
* How to keep your down payment documentation organized
* What lenders may require for gifted down payments
* Why buyers should avoid major financial changes before completion
* What the Cowichan land title discussion means for BC property owners

Whether you’re buying your first home or your next one, the time between approval and completion matters. Get the mortgage approved, keep your finances stable, and save the big changes for after you have the keys.