top of page
  • Paul Barranco

6 Things Not To Do When Applying For A Mortgage

When lenders review your application, they like to see consistency in your finances.

Here are six things you shouldn’t do when applying for a mortgage:

  1. Do not make major purchases like furniture, appliances, jewelry, vehicles or vacations

  2. Don’t change or quit your job

  3. Consult with your mortgage professional before withdrawing, depositing or moving large amounts of money in or out of your bank account

  4. Do not pay off debts or collections (unless instructed to do so by a mortgage professional)

  5. Avoid using cash for a good-faith deposit – cash is difficult to verify and could result in a closing delay

  6. Don’t have your credit report pulled too many times – this can hurt your credit score

Call 1st Phase Mortgage today for a pre-approval.

Recent Posts

See All

Don’t Curb Your Home’s Appeal

Paying regular attention to your abode’s exterior prevents cold shoulders from neighbors and keeps passersby from slamming on the brakes to stare at the eyesore. More than cosmetics, a spiffy home pro

Here Are the Best Ways to Store Your Pet’s Food

Quick: Where do you store your pet’s food? Is it sitting in an open bag on the floor, perhaps? We pet people spend a lot of time, energy, and money selecting and buying our furry friends’ food, but wh

Comments


bottom of page