When lenders review your application, they like to see consistency in your finances. Avoid these major mistakes when applying for a loan!
- Do not make major purchases like furniture, appliances, jewelry, vehicles or vacations.
- Don’t change or quit your job.
- Consult with your mortgage professional 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 do so by a mortgage professional).
- Avoid using cash for an earnest money 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. However, if you have multiple credit pulls to shop for your home loan with a 30 day period it will not lower your credit score.Have questions? Our loan officers serve both Oregon and Washington and are happy to help!Vancouver & Portland Metro Area: (360) 215-7684
Tri-Cities: (509) 491-3200Give us a call or shoot us an email below!NMLS# 64525/1626640
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