1. Do Not Change Jobs.
Changing jobs before or during the loan process can create a problem in qualifying you for a loan, particularly if that job is in a different line of work or at a lower rate of pay than your current job. Many loan programs require borrowers to have a two-year work history.
2. Do Not Switch Banks or Move Your Money Between Accounts.
It is best to leave your money where it is until your loan has closed. Moving your money to a new bank or even into a new account can wreak havoc with the verification process. Most new accounts opened or large deposits made in the last two to three months will have to be explained as to the source of funds. If you are transferring money from investment or retirement accounts, make sure you keep the withdrawal/deposit receipts and make sure you clearly show where you deposited the money.
3. Do Not Make Any Major Purchases.
A new large monthly payment can affect the amount of home you qualify for and it can make it difficult to get your loan approved.
4. Do Not Have Your Credit Run.
Your credit score will be affected if your credit is run many times in a short time period. Since interest rates and good credit scores are directly linked, it is in your best interest to minimize the number of times your credit is pulled.