Thinking about a mortgage? Check this important list of DOs and DON’Ts…Your future may depend on it!

Before you apply for your mortgage:

• DO check your credit score…visit www.equifax.com so you won’t have any surprises.

During the mortgage application process:

• DO disclose all debts, liabilities, and bankruptcies on your mortgage application.
  

Once you have applied for a mortgage:

• DON’T change bank accounts.
• DON’T change jobs.
• DON’T co-sign a loan for anyone.
• DON’T purchase a new vehicle, furniture or appliances.
• DON’T apply for a new credit card or store charge card.
• DON’T purchase anything on a “Buy Now, Pay Later” plan.
• DON’T shop around for a mortgage. One of the factors on your credit score is “inquiries” – If too many sources inquire about your credit in a short period of time, this can flag your account as “credit seeking” and lower your credit score.
• DON’T make a large deposit without first checking with your loan officer; the sudden appearance of a large deposit may raise questions about where the money is coming from.
• DON’T exceed the limit on your credit card. Even if the credit card company allows the transaction to go through, this can hurt your credit score.
• DON’T spend any of the money you have set aside for closing!