Recently I wrote about How to Improve Your Credit Score, and I thought it would be useful to follow that up with a simple list of mistakes to avoid when you are trying to get a mortgage and close on a house.
- Don’t change your employment status.
- Don’t make any major purchases (cars, furniture, home theater, vacations, etc.).
- Don’t increase your credit card debt or miss any payments.
- Don’t change bank accounts or make undisclosed large deposits.
- Don’t apply for a credit card, co-sign a loan or make a credit inquiry.
- Don’t spend money you have set aside for closing – not any, not ever.
- Don’t delay in providing all paperwork asked for by the mortgage company.
If you follow these simple rules, you are much more likely to get your mortgage funded and get your new home.
As always, when you need help finding your new home you can reach me at 515.724.3163 or RyanLynch@KW.com.