Here are a couple of tips for when you are applying for a mortgage.
- Do keep all existing credit card accounts open.
- Do maintain your employment at your current job.
- Do pay off collections, judgments, or tax liens reported within one year.
- Do stay current on your existing accounts.
- Do call us. We are here to help you through this process.
- Do CONTINUE TO USE YOUR CREDIT AS YOU NORMALLY WOULD
- Don’t apply for new credit of any kind.
- Don’t MAX OUT or overcharge existing credit cards.
- Don’t consolidate debt to one or two cards.
- Don’t make any large purchases.
- Don’t make any large deposits into any of your accounts.
- DON’T RAISE RED FLAGS TO THE UNDERWRITER – Don’t co-sign on another person’s loan, or change your name and address. The less activity that occurs while your loan is in the process, the better it is for you.