Whether you are a first-time homebuyer or not, the homebuying process can feel stressful enough. You may have been pre-approved or found your dream home, but there are a few MAJOR things you should NOT do when buying a home.

  1. Do not miss loan payments.

Before finalizing your mortgage, your credit will be reassessed. If you have missed any loan payments since going under contract, your credit will decrease which could result in terminating the loan. Remember, just because a lender issues your loan commitment does not mean everything is finalized.

  1. Avoid consolidating your debt.

Debt consolidation can be tempting. Some debt consolidators may allow you to bring all your debt under one place. However, the hidden fees and interest rates that may increase exponentially may not improve your credit as expected. It is best to avoid this decision during your home buying process.

  1. Do not buy a car.

This is one of the most frequently made mistakes. Your loan pre-approval is based on your credit score and current debt ratio. Buying a car will change both factors; this could make you unable to get your home loan.

  1. Do not change banks.

Again, this is one that many people do not think will make a difference in their loan process. Your banking status and history is a part of the equation in getting you pre-approved for a loan. If this changes, you may not get your official approval.

  1. Avoid changing your job.

Your employment history is considered during the mortgage financing process. This assures you can repay your loan according to the terms. If you change jobs, a lender may think you are financially unstable, making you less appealing as a borrower.


Make sure you refrain from any of these decisions when you are trying to buy a home. If you are not pre-approved yet, download the DML app to get pre-approved quickly.