6 Things to Avoid When Applying for a Mortgage
Hey Utah! Did you know that when lenders review your application, they like to see consistency in your finances? Simple things you might not think of can have a big impact on your application. Here is a quick list of 6 things you’ll want to avoid when applying for a mortgage in Utah:
Do not make major purchases like furniture, appliances, jewelry, vehicles, or vacations.
Don’t change or quit your job.
Consult with your independent mortgage broker (that’s me!) before withdrawing, depositing, or moving large amounts of money in or out of your bank account.
Do not pay off debts or collections (unless instructed to by your mortgage broker).
Avoid using cash for a good faith deposit. Cash is difficult to verify and could result in a closing delay.
Don’t have your credit report pulled too many times. This can hurt your credit score.
Were there any of these mistakes that surprised you? Let me know in the comments! If you have any questions about your situation or how you can make applying for a mortgage in Utah a smooth and stress-free experience, schedule a free consult with me by clicking this link!
