Here are 24 ways to prevent any delays with your home loan approval. Some of them may surprise you!
DO
- DO continue to live at your current home.
- DO continue to make your home loan payments or rent payments.
- DO continue to use your credit as normal.
- DO keep working at your current job.
- DO keep your same insurance company.
- DO stay current on all your existing accounts.
- DO call your home loan expert if you have any questions.
DON’T
- DON’T start any home improvement projects.
- DON’T buy any furniture.
- DON’T apply for new credit cards (even if you seem pre-approved).
- DON’T close any credit card accounts.
- DON’T consolidate your debt onto one or two credit cards.
- DON’T max out or over charge on your credit card.
- DON’T open a new credit card.
- DON’T pay off any loans or credit cards without discussing it with your home loan expert.
- DON’T change bank accounts.
- DON’T pay off charge offs without a discussion with your home loan expert.
- DON’T pay off collections without a discussion with your home loan expert.
- DON’T take out a new loan.
- DON’T transfer any balances from one account to another.
- DON’T finance any elective medical procedures.
- DON’T join a new gym.
- DON’T make a major purchase (car, boat, fur, jewelry, etc.).
- DON’T open a new cell phone account.
Credit: Carrie Mandel of Tri
