What Mistakes Should I Avoid in the Loan Application Process?

Here are a few common mistakes to avoid in the process of choosing a lender:

  • Not educating yourself about the mortgage process
  • Not fixing your credit in advance
  • Not looking for first-time home buyers’ programs
  • Borrowing too much money
  • Not shopping around for rates and terms
  • Paying junk fees without detailed information
  • Dealing with a second-rate mortgage company
  • Making large credit purchases prior to applying for your mortgage
  • Not disclosing all information to your lender
  • Not planning for closing costs
  • Not having enough cash on hand after closing

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