12 things to avoid
When applying for a mortgage
When lenders review your loan application, they like to see consistency in your finances. You'll want to avoid:
Making major purchases such as furniture, appliances, jewelry, vehicles or vacations.
Changing or quitting your job.
Withdrawing, depositing or moving large amounts of money in or out of your bank account.
Paying off debts or collections (unless told to do so by your mortgage broker).
Using cash for a good-faith deposit — cash is difficult to verify and could result in a closing delay.
Pulling your credit report too many times — this can hurt your credit score.
Missing car, credit card, student loan and other debt payments.
Co-signing on a loan, which makes you partially responsible for that debt.
Giving your realtor a pre-approval letter with too high of an amount.
Not saving enough for a down payment or borrowing money for your down payment.
Having business debt under your name.
Not establishing a solid credit history.