After you apply for the mortgage: RULES
What To Avoid During the Loan Approval Process
It is very important that your financial profile doesn’t undergo any significant changes during the home loan approval process. Altering your income or debt can result in a home loan denial.
DON’T: Make large deposits or withdrawals.
DON’T: Change jobs
DON’T: Apply for credit cards (this means NO Home Depot cards, NO Macy’s cards- even if you get 50% off!)
DON’T: Buy new furniture on credit (0% for 10 years is still credit)
DON’T: Buy a new car
DON’T: Up a home equity line of credit
DON’T: Close credit accounts.
DON’T: Make payments on collection accounts.
