Last week we offered up five first-time homebuyer tips on how to spruce up your credit and finances before applying for a mortgage. Here are four more suggestions to get acquainted with before you start house hunting!
Don’t switch jobs.
How much money you make is a significant factor in getting pre-approved for a home loan, but surprisingly, it’s not the most critical part of your home loan application. For a lender to hedge their bet that you’ll be a good candidate to make on-time, monthly payments, a mortgage underwriter carefully reviews the stability of your income and the likelihood that it will remain healthy and consistent.