Buying your first home can make you feel like you’re on top of the world. This feeling is even made more wonderful if you know that you got a good deal on the house, plus you were able to find the best mortgage rate in your state. However, the home buying process doesn’t stop until the loan is fully paid. Here are some “after mortgage don’ts” that you have to be aware of to keep your finances still in check:

1. Don’t run up your Credit Cards – You look around at your beautiful new home, and suddenly you see beautiful furniture, added interiors, and a lovely baby grand piano that would just go perfectly in the living room. You can’t wait to make your visions a reality, the only thing stopping you is the money. So you eagerly take out your credit cards and start charging for things you don’t really need at the moment. Running up your credit cards on home furnishings is one common reason why new homeowners amass a bigger credit card debt than usual. It’s just so tempting to beautify the home. But really, it’s all about discipline. You’ll be thankful you didn’t swipe that card when your first mortgage payment has to be made.

2. Don’t Make Late Payments – Sometimes paying electric bills or phone bills a little late may be acceptable, but think differently when it comes to your mortgage. After all, this is one of the largest expenses you can have every month and you wouldn’t want to end up spending your money on other things.

3. Don’t Slack Off On Work – Having just made the biggest purchase in your life, you may feel the urge to pat yourself on the back and relax. If you work 40 hours per week, keep on doing so. Any lack in income may cause you to default on payment, and you wouldn’t want that to happen.

4. Don’t Get New Credit Cards – The principle here is to keep your debt to equity ratio just about the same as the day you signed those papers. Before you even made the decision to buy the house, you may have already calculated that you can afford it. Don’t run the risk of getting deeper into debt by taking on a new credit card that you don’t really need.

5. Don’t Stop Communicating – You may think that since you’ve already gotten your loan and everything is signed that you no longer need to keep in touch with your loan officer. The thing is, keeping in touch will keep you informed of the latest news and happenings and anything you need to be aware of.

Remember, you will only triumph over your mortgage once you’ve paid off everything. It’s not enough to get a good mortgage rate. You must also have the discipline to make those payments and pay everything off either on or before time.

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