SHOULD and SHOULD NOTs During the Home Buying Process


One of my lender relationships over at Movement Mortgage recently sent this quick reminder of things you SHOULD and SHOULD NOT be doing while trying to obtain a mortgage.


  1. Continue making all mortgage, loan and rent payments on time
  2. Keep all existing accounts current (credit cards)
  3. Keep working at your CURRENT employer
  4. Keep your same insurance company if you are refinancing

More importantly, you SHOULD NOT:

  1. Make any major new purchases (cars, boats, jewelry, appliances, etc)
  2. Apply for new credit (even if you see “pre-approved”)
  3. Open a new credit card
  4. Transfer any balances from one account to another
  5. Pay off Charge Offs or Collections without discussing with your loan officer first
  6. Buy any furniture on credit
  7. Close any credit accounts, including credit cards
  8. Change bank accounts
  9. Max out or over charge on your credit card accounts
  10. Consolidate your debt onto 1 or 2 credit cards
  11. Take out a new loan
  12. Finance any elective medical procedures
  13. Payoff any loans or credit cards without first discussing with your loan officer first

Bottomline: Always consult your REALTOR® and mortgage professional before making any money decisions during this process. Things that appear harmless could prevent you from closing on time or closing at all.