Skip To Content

​What Not to Do 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. Check out this 10-point checklist to help you stay on track.

Any of the following will be a main consideration in a mortgage loan request:

  • Changing jobs or trying self-employment.
  • Buying a new vehicle (or any major purchase).
  • Refrain from buying furniture before you complete your home purchase.
  • Co-signing a loan for anyone.
  • Spending the money you’ve saved for your downpayment and closing costs.
  • Initiating new inquiries on your credit report.
  • Making large deposits into your checking or savings accounts.
  • Using credit cards for large purchases.
  • Letting any payments fall behind.
  • 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.