What not to do when applying for a loan…
There’s a time and season for everything. When you’re applying for a new home mortgage loan is NOT the time to do any of the following things…
- Do not change jobs, become self-employed or quit your job.
- Do not buy a car, truck or van while applying for a home loan.
- Do not use credit cards excessively or let your accounts lag behind.
- Do not spend money that you set aside for closing.
- Do not omit debts or liabilities from your home mortgage loan application.
- Do not buy any furniture on credit during the application process.
- Do not originate any inquiries on your credit.
- Do not make large deposits without consulting your home mortgage loan officer.
- Do not change bank accounts.
- Do not co-sign a loan for anyone.