When you are ready to obtain a mortgage, staying educated about the best practices of a successful home purchase can help you avoid some of the most common pitfalls along the way. Here is a list of Dos and Don’ts to follow as you begin the home financing process:
Do
Obtain a pre-approval
Continue to make your mortgage payments on time, if any
Stay current on all existing accounts
Continue to work for the same employer
Continue to use your credit cards as usual
Contact your Loan Consultant with any questions
Share your mortgage experience with family, friends, and co-workers
Don't
Move money around without first contacting your Loan Consultant
Make any major purchases
Pay bills late
Apply for new credit or open new accounts
Close any credit card accounts
Change banks or open new bank accounts
Max out or overcharge your credit accounts
Take out a new auto loan or lease
Make large cash deposits
