First Commonwealth Mortgage

Knowing what not to do is just as important as knowing what to do when it comes to applying for your mortgage loan. Check out this 10-point checklist to help you stay on track.

Realize that any of the following will be a main consideration in the consideration of your mortgage loan request:

  1. 1. Changing jobs or trying self-employment.
  2. 2. Buying a new vehicle (or any major purchase).
  3. 3. Refrain from buying furniture before you complete your home purchase.
  4. 4. Co-signing a loan for anyone.
  5. 5. Spending the money you've saved for your downpayment and closing costs.
  6. 6. Initiating new inquiries on your credit report.
  7. 7. Making large deposits into your checking or savings accounts.
  8. 8. Using credit cards for large purchases.
  9. 9. Letting any payments fall behind.
  10. 10. Opening or establishing any new bank account.

Remember, keep your financial activity consistent and stable during the time your mortgage loan application is in process.

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