Everyone seems to have advice for what to do when buying a home, but here a few things to NOT to do!

Buy a car or other large purchase: cars, furniture, appliances, electronics, and vacations can be big expenses that affect your ability to afford a move. Avoid making large purchases, especially ones that involve monthly payments. This is a time to save.

Move money around, especially large amounts between accounts.  Your lender will be looking at your financial information, and this can trigger a red flag. Leave everything as it is while the purchase goes through. Any large transfers or purchases should wait until the sale goes through.

Change banks. Don’t change banks before buying a house. Stay with your current bank, or, if you must change banks, postpone the purchase. 

Change jobs, if part of your income comes from commissions or bonuses, or if you are a part-time hourly employee. Your income information is part of what the bank takes into consideration when issuing a loan; they want to see a steady, predictable income. Similarly, do not become self-employed before buying a home. Even if it’s a good career move, wait until after the purchase.  

Great article, hope you found it useful.  Give me a call if you have any questions.