When applying for a mortgage to buy a new home, there are some common pitfalls you should avoid to ensure your process goes smoothly!
Don’t make large purchases or open new lines of credit. This can affect your credit score and debt-to-income ratio.
Avoid changing jobs or careers. Lenders prefer stability in your employment history.
Don’t miss any bill payments. Timely payments are crucial for maintaining a good credit score.
Refrain from making any large deposits into your bank account without a clear paper trail.
Don’t ignore your lender’s requests for documents. Provide all necessary paperwork promptly.