DO's and DON'Ts When applying for a mortgage

DO's and DON'Ts When applying for a mortgage

Applying for a mortgage? Here are the DOs and DON’Ts you need to know!

DO
Check your credit report and clear up any errors you might find.

DO
Put aside money for closing costs, which are typically 3-6% of the sale price.
Check your credit report and clear up any errors you might find.

DO
Put aside money for closing costs, which are typically 3-6% of the sale price.
Get pre-approved before you start shopping so you’ll be ready to make an offer when you find the right home.
Check your credit report and clear up any errors you might find.

DON'T
Quit your job or make other big changes — lenders want to see a track record of financial stability.
Open new credit cards or take out new non-mortgage loans.

DON'T
Quit your job or make other big changes — lenders want to see a track record of financial stability.
Open new credit cards or take out new non-mortgage loans.
Make any large deposits, which can raise red flags to lenders.

Ready to start your home search? Reach out for a referral to a mortgage professional to get your pre-approval.

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