Listed below are details to avoid doing when you’re applying for a mortgage. A number of these things are common sense, but the others you might not believe are deal killers but in the long run, can cost you the best product available.
Quit your workplace
Buy a new car or make any other large investments
Stop making payments on your mortgage, smaller loans.
Try to sell your house
Begin repairings in your house
Draw off of your house line of credit
File for bankruptcy
Take advice from your mechanic or hairdresser on mortgage programs and/or rates
The last one alone has likely contributed to headaches for your mortgage specialist more than some of those others. Obtaining a mortgage isn’t rocket science, however, there are particular processes and protocols which will need to be adopted.
Each mortgage differs and unless the person supplying the information is prepared to step up and give you the cash themselves, then be certain that you aren’t going to blindly follow the recommendation of a non-professional.
I would not tell my mechanic how to repair a mysterious rattle coming from the motor, but they don’t have any problems offering sometimes awful tips for something they’ve just a pedestrian understanding of.