Mortgage Pre-approval
Pre-approval is an important milestone, but it comes with rules to follow. From avoiding big purchases to keeping your accounts steady, here are 10 things not to do once you’ve been pre-approved.
10 Things Not To Do When Pre-Approved
Don’t change jobs or reduce hours
Don’t buy or lease a car, truck, or boat (unless you plan to live in it)
Don’t max out your credit cards
Don’t close any accounts, even with $0 balances
Don’t spend your down payment or closing cost money
Don’t finance furniture (or anything else)
Don’t become self-employed
Don’t make any undocumented deposits into your account
Don’t shuffle your money around
Don’t co-sign for any type of loan
In a nutshell, please keep me informed of anything that may affect your real estate transaction. If you're not sure if it could affect it, please ask!
