Resources > Homebuyer Education > During the Loan Process > Top 10 Mortgage Mistakes
DHI MORTGAGE

Top 10 Mortgage Mistakes

During your application process, it’s important to know what to do and what not to do. Talk to your DHI Mortgage Loan Originator before doing anything that could put your loan at risk.
1. Don't Change Jobs

This includes quitting or becoming self-employed. 

2. Don't Purchase a Vehicle

Avoid large purchases until your mortgage is approved.

3. Don't Use Credit Cards More Than Absolutely Necessary

Hold off on any unnecessary spending.

4. Don't Spend the Money Set Aside for Your Closing Costs

You’ll need this money if your mortgage gets approved!

5. Don't Be Late On Any Payments

Doing so could put your mortgage qualification on hold for up to a year.

6. Don't Cosign a Loan for Anyone

This may have a negative effect on your application.

7. Don't Change Banks

This can wait. 

8. Don't Make Any Unusually Large Deposits

Talk to your Mortgage Loan Originator first!

9. Don't Apply for Any New Credit

Doing so could put your mortgage qualification on hold for up to a year. If they ask for your Social Security number, they’re likely looking at your credit.

10. Don't Buy New Furniture

Wait until you’re in your new home to make large purchases.