6 Mistakes To Avoid When Applying For A Mortgage

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6 Mistakes To Avoid When Applying For A Mortgage

When lenders review your application, they like to see consistency in your finances. Avoid these major mistakes when applying for a loan!

  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 an earnest money 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. However, if you have multiple credit pulls to shop for your home loan with a 30 day period it will not lower your credit score.

    Have questions? Our loan officers serve both Oregon and Washington and are happy to help!

    Call
    (360) 215-7684

    Email
    admin@dc-lending.com

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    1220 Main St. Suite 416
    Vancouver, WA 98660