09/21/2022
Six things not to do when applying for a mortgage
When lenders review your application, they like to see consistency in your finances
• Do not make major purchases like furniture, appliances, jewelry, vehicles, or vacations.
• Do not change or quit your job.
• Consult with your mortgage professional before withdrawing, depositing, or moving large amounts of money in or out of your bank account.
• Do not pay off debts or collections (unless instructed to do so by a mortgage professional).
• Avoid using cash for a good faith deposit - cash is difficult to verify and could result in a closing delay.
• Do not have your credit report pulled too many times this can hurt your credit score.
