Dated: October 9 2020

Views: 56

While your loan is being processed and before you close on your home, there are multiple ways in which you can ruin your chances in becoming approved for your home.


  • Open any new credit lines. New credit lines equal new debt and new debt will increase your debt to income ratio used in qualiifying you for your home.
  • Take a cash advance from your credit card. Again, this will increase your debt ratio lowering your chances of becoming approved.
  • Allow for anyone to pull your credit.
  • Make any irregular or cash deposits into your bank account. 
  • Quit your job, start a new job or change careers without advising your financing team ahead of time.
  • Cut back on your work hours or decrease income.
  • Take an unpaid leave or vacation as this will affect your allowable income used for qualification. 
  • Pay any accounts late that would affect your credit. 
Blog author image

Felix Trujillo

I'm a Professional Real Estate Agent - i'm not here to waste your time! Sellers: By Specifically Targeting buyers who are looking in the Austin and surrounding area to weeding out the window shoppers,....

Latest Blog Posts

First Time Home Buyer Mistakes to Avoid

Buying your first home is one of the most exciting decisions you’ll make in your life! It comes with a lot of responsibility, but a lot of excitement too. Before you jump in and buy your first

Read More

Chasing Blogity: October '20 Recap

Chasing Blogity: October ‘20 Recap Wow, what an awesome month. My first taste of cold weather in Austin and the hottest rental month I’ve had!Excited to share some success and

Read More

How to Get a Home Loan With Bad Credit

Many people think you need ‘perfect credit’ and a large down payment to get a home loan. You don’t.Today, there are programs for people with less than perfect credit and little

Read More

Home Decorating Tips for Halloween 2020

With the spooky season drawing closer by the day, every homeowner will want to start buying and displaying Halloween decorations inside and outside their homes. So within this article, we will be

Read More