Buying a home is a lengthy process that requires you to be on your best “financial behavior” at all times. Just because you’ve been pre-approved and have the house of your dreams under contract doesn’t mean you can sit back and assume the home is yours. There are still a few actions to avoid if you want to buy a home without delays, setbacks, or rejections. Here’s our list of 3 actions to avoid if you want to buy a home.
#1 Don’t apply for a new credit card 
Keep in mind that when you apply for a new credit card, it can look bad and reflect poorly on your credit rating. This is due to the credit card company doing a hard inquiry on your credit, which always lowers your credit score. WAIT!
#2 Avoid changing jobs
Although changing jobs can lead to a higher income, it could delay your home buying process. Concerns stem from mortgage companies reviewing your finances. Often times, they look at how long you’ve been at your job ( i.e. how secure the job is). Someone who is a new hire is presumably within the probationary period (90 days or longer) and could be easily let go.
#3 Don’t close any credit accounts
Many people like to clean up their finances by canceling unused credit cards and transferring the balances to other cards to get a lower interest rate. Don’t do it if you’re in the process of buying a home! This can be a bad move for your credit score. The longer you’ve had an account open in good standing, the better it is for your overall credit score.
Cesi Pagano
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