5 Pitfalls to Avoid When Applying for a Mortgage
Knowing what not to do is just as important as knowing what to do when it comes to applying for your mortgage loan. Here are 5 pitfalls to avoid when applying:
- Changing jobs or trying self-employment.
- Buying a new vehicle (or any major purchase).
- Co-signing a loan for anyone.
- Initiating new inquiries on your credit report.
- Making large deposits into your checking or savings accounts or opening new bank accounts
Remember, keep your financial activity consistent and stable during the time your mortgage loan application is in process.