7 things to avoid doing when looking to buy a new home:
- Don’t change jobs! Stability is a must!
- Do not make any larger purchase – like an automobile -Your debt to income ratio will be unfavorable.
- Don’t move money from one bank to another, not even from one account to another – this complicates transaction process, looks like large deposits which need to be explained later
- Don’t run credit report online on yourself. It will look like one more inquiry
- Do not consolidate your bills before speaking with your lender – mortgage person
- Don’t purchase furniture which does not need to be paid in two years – no matter what you are told, it will show up as debt on your account and lower your score.
- Don’t pack or store your tax and income information so that you have to look through boxes to find what mortgage company needs.
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