5 Mistakes To Avoid When Buying a Home

Here are five common home-buying mistakes you should avoid.

If you’re planning on buying a home, you’re probably going to need a loan. The loan process can be stressful, but it can be even worse when you make simple mistakes. That’s why I’m sharing five things you DON’T want to do when applying for a loan:

1. DON’T quit your job. If you can’t stand your boss and the people you work with are jerks, just stick it out for a little bit. The name of the game is stability. Nothing raises red flags for lenders like quitting your job.

2. DON’T increase your credit card balance. Buying a new home is exciting, so I understand the impulse to purchase new furniture and appliances for it. However, racking up credit card debt will jeopardize your loan.

“Stability is the name of the game.”

3. DON’T buy a new car. Keeping on theme, you should avoid anything that could impact your credit score.

4. DON’T mess with your savings. I know; it seems obvious, but it’s a common mistake to dip into the funds you have saved for a down payment and closing costs.

5. DON’T omit any liabilities during the loan process. Be transparent and upfront so that issues don’t come back up towards the end of the process.

If you have questions about today’s topic or anything else, please call or email me. I am always willing to help!