The Do's & Don'ts of Applying for a Mortgage

So, you’re thinking about buying a home? That’s exciting! But before you dive into the mortgage process, there are a few important things you’ll want to keep in mind. What you do before and during your mortgage application can seriously affect whether you get approved—and what kind of loan you qualify for.

To help you stay on track, here are some simple do’s and don’ts to follow while applying for a mortgage:

✅ The Do’s

Get Pre-Approved Early
Before you even start house hunting, get pre-approved. It helps you know what you can afford and makes your offer stronger when you find the right home. Plus, it can bring up any financial hiccups early on—before they become deal-breakers.

Keep Your Job Steady
Lenders love to see stable employment. Try not to switch jobs or change how you’re paid during the mortgage process. A sudden shift in income could slow things down or hurt your chances of approval.

Stay on Top of Your Bills
Your credit score matters—a lot. Paying your credit cards, loans, and other bills on time helps keep your score in good shape and shows lenders you’re financially responsible.

Save More Than Just Your Down Payment
Don’t forget about closing costs, inspections, and the “what ifs” that pop up when you move in. Extra savings can be a real lifesaver—and show lenders you’re prepared.

Have Your Paperwork Ready
You’ll need to provide documents like pay stubs, tax returns, and bank statements. Keeping everything organized and easy to access can make the process faster and less stressful.

🚫 The Don’ts

Don’t Make Big Purchases
Hold off on buying that new car or filling your future living room with furniture—at least until after you close. Big purchases on credit can mess with your debt-to-income ratio and put your loan at risk.

Don’t Open or Close Credit Accounts
Now’s not the time to apply for a new credit card or close an old one. Both actions can affect your credit score and raise red flags with lenders.

Don’t Take on New Debt
That new loan or financing plan may seem harmless, but it could impact your ability to qualify. Keep your financial picture as stable as possible during the process.

Don’t Make Major Bank Changes
Sudden transfers or opening new bank accounts can confuse underwriters and delay your approval. Keep your accounts as-is unless you absolutely have to make a change.

Don’t Co-Sign on Loans
Even if you're just trying to help a friend or family member, co-signing means you’re legally on the hook for their loan. Lenders will count that as part of your debt—and it could affect your mortgage approval.

Final Thoughts

Getting a mortgage is a big step, and it pays to go in prepared. By following these tips, you’ll avoid common setbacks and put yourself in a better position to get approved. And if you’re unsure about anything along the way? Reach out to a mortgage professional—they’re here to help guide you every step of the way.

Want help getting started? Let’s talk—I'd be happy to walk you through it!