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A pre-approval isn’t a guarantee you’ll get that mortgage loan.
Want to keep your mortgage application on track? Avoid these mistakes:
- Big purchases. Making a major purchase just ahead of buying a home can send up a serious red flag.
- New credit cards. These require hard credit pulls and can lower your credit score. They also mean more debt, which can cause lenders to worry.
- Late payments. Falling behind on credit card and loan payments can send your credit score down (and your chances of getting a loan with it).
Changes in your employment can also derail your mortgage application, so avoid any job changes just before buying a house.
