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The 4 Things Homebuyers Shouldn’t Do When Applying for a Mortgage
January 9, 2025
When you’re applying for a mortgage, you want the process to go as smoothly as possible. That’s why it’s important not to do these four key things.
1. Don’t include any misinformation on your application. This includes if you’re married and when you started and ended your current job.
“We verify that,” said Melyssa Caban, a New American Funding branch manager based in Kissimmee, Fla.
2. Don’t make any cash deposits. Your lender has to be able to source where the money came from.
3. Don’t rack up new debt. You don’t want to buy a new car or new furniture. If you take on new debt, it may affect whether you are still able to qualify for the mortgage you hoped to be approved to receive.
“We will find out,” said Caban.
4. Don’t switch jobs or reduce your hours at work. If your income changes, it may affect your loan approval.
Melyssa Caban NMLS # 737510
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