Avoid Common Pitfalls That Could Put Your Dream Home at Risk

Your Finances Matter

When under contract, any changes to your finances can impact your mortgage approval. Thus, consider the effects of closing credit cards or switching jobs. Both actions can change your credit score, which lenders carefully assess.

Your Job Stability is Key

Job changes during this time can raise red flags for mortgage lenders. They want to see stability in your employment. A change in income could affect your debt-to-income ratio and jeopardize your buying power.

Your Purchases Affect Your Budget

Thinking about buying a car or any high-ticket item? It might seem like a good decision, but these purchases can increase your debt. A rising debt load could make lenders rethink your loan eligibility.

Stay Focused on Your Goal

Navigating the home buying process requires careful planning. Prioritize keeping your financial situation stable while under contract. This ensures you stay on track for closing your new home.

Need guidance through the mortgage journey? Reach out today for expert advice on making sound financial decisions while buying a home!

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