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Do’s and Don’ts with Finances


Ever wondered what you should or should not do with your finances as you are thinking about buying a home? Below is a helpful list that you should follow before and even during the home buying process. Mortgage professionals will ask that you do not do anything to your credit to negatively affect it after you have applied for a loan. If you ever have a question about your finances, please contact your mortgage professional before doing anything to jeopardize your chances of qualifying for your home purchase.


  1. Deposit cash or other non-payroll related checks.
  2. Buy a car, truck, boat, motorcycle, or anything else you have to finance.
  3. Change jobs.
  4. Change banks.
  5. Have credit pulled or open new credit cards.
  6. Spend money you need for closing. Lenders want to see the money being used for the down payment seasoned for 60 days.
  7. Change home owners insurance without telling the lender.


  1. Save all bank statements and paystubs until you close.
  2. Disclose all properties (even if they are free and clear and no mortgages).
  3. Let the lender know if you plan to use a business bank account.
  4. Disclose all types of income.
  5. Check your application for accuracy
  6. Disclose debts that may not appear on credit.
  7. Tell the lender upfront if you are receiving a “gift” for the down payment.
  8. Promptly provide requested documents.
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