Things to Avoid After Applying for a Mortgage
Congratulations you just applied for a mortgage! That’s a big and exciting step but you are not in the clear yet. There are many things that can affect your mortgage application that you may not realize and slow the process down or even jeopardize your application.
After you apply for your mortgage there is one word you need to keep in your head, and that’s consistency!
We compiled a list of things that could jeopardize your application, so be sure to write theses down, screenshot them and save them in your phone, whatever you have to do to engrain them in your brain. We promise you won’t regret it.
The DO NOT’s After Applying for a Mortgage:
- Don’t change your bank account
- Avoid any large purchases
- No applying for new credit cards or close any credit accounts
- Before you deposit cash into your bank account, speak with your bank or lender
- Don’t co-sign any other loans for anyone else
In short just be sure to fully disclose everything with your lender and be completely transparent. If you fully disclose your intentions, it makes it a lot easier for your lender to help you along the process and make everything run a lot more smoothly.