» DO NOT increase credit card balances
and/or loan balances.
» DO NOT apply for additional or new
credit or put balances on a paid credit card.
» DO NOT ignore late payment and/or
collection notices that are received during the mortgage process.
» DO NOT purchase anything that is “same
as cash” — it will show on the credit report as a new debt.
» DO NOT buy furniture, cars, or
appliances on credit until after closing.
» DO NOT lend money to family members,
friends, etc. if it is needed for closing.
» DO NOT store money at home, place it
in a bank account so it can be documented as savings throughout the loan
process and can qualify as assets on hand.
» DO NOT have overdrafts on a checking
» DO NOT quit or change jobs during
the loan process.