5 Things to Do Before You Apply for a Mortgage
Getting pre-approved is step one of the homebuying journey, but there are a few moves you should make before you even pick up the phone. After 27 years and thousands of closings, these are the five that make the biggest difference.
1. Check your credit early
Pull your free credit reports and look for errors, old collections, or accounts you don't recognize. Fixing a reporting error can take 30-60 days, and even a modest score improvement can change your rate tier. If your score needs work, we can build a plan. Often paying down specific card balances moves the needle faster than anything else.
2. Don't open (or close) anything new
New car loan? New furniture financing? A shiny new travel card? Press pause. New credit inquiries and new monthly payments both work against you in underwriting. Closing old accounts can hurt too, by shortening your credit history. Boring is beautiful for the six months before a mortgage application.
3. Gather your documents
Two years of W-2s or tax returns, your last two pay stubs, and two months of bank statements. That's the core packet. Self-employed? Add business returns and a profit-and-loss statement. Having these ready turns pre-approval from a week-long scramble into a same-day conversation.
4. Know your comfortable payment, not just your approval
What a lender will approve and what feels good in your monthly budget are two different numbers. Before we talk, look at what you actually spend each month and decide what housing payment lets you keep living your life , travel, savings, kids' activities and all. We'll design the loan around your number.
5. Season your down payment
Underwriters need to trace where your down payment came from. Large cash deposits, funds moving between many accounts, or last-minute gifts all trigger paperwork. Get your funds settled in one account at least two months before you apply, and if family is gifting money, tell me early so we document it correctly the first time.
Do these five things and your application will move faster, cleaner, and with far less stress. When you're ready, I'm here, and the first call is always free.
Book a free 15-minute intro call. No pressure, just clarity.