Do not open new credit accounts.
New credit cards, auto loans, personal loans, store cards, or furniture financing can lower your score and increase your monthly debt.
We recommend: Talk to your loan officer before applying for any new credit.
Most Common Problems
Big Approval Mistakes to Avoid
These are the mistakes that can change your credit, debt-to-income ratio, available funds, or the documentation your lender must verify. Use the filters to review the areas that apply to you.
Do not run up credit card balances.
Higher balances can reduce your credit score and increase minimum payments, which may affect your approval amount.
We recommend: Keep balances stable or lower whenever possible.
Do not miss payments while shopping.
A late payment can quickly become a major credit issue, even if you were already pre-approved.
We recommend: Keep every bill current through closing.
Do not use borrowed money for cash to close.
Credit card advances, payday loans, personal loans, and undocumented loans from friends or family generally cannot be used as acceptable funds.
We recommend: Use verified savings, eligible gift funds, or approved assistance programs.
Do not deposit cash at the last minute.
Cash saved at home is difficult for a lender to verify. Last-minute deposits often create questions instead of solving the problem.
We recommend: Keep purchase funds in a bank account well before applying.
Do not make large unexplained deposits.
Large deposits that do not match normal income can require documentation and may not be usable if they cannot be sourced.
We recommend: Keep records for transfers, payroll, gifts, sales, refunds, and other deposits.
Do not rely on undocumented gift money.
Gift funds usually need a gift letter and a paper trail. Random transfers from relatives can create underwriting issues.
We recommend: Ask the lender exactly how gift funds should be documented before moving money.
Do not change jobs without asking first.
A new job, new pay structure, commission change, or move to self-employment can change the way income is calculated.
We recommend: Tell your loan officer before changing employers, hours, or compensation.
Do not assume every income source counts.
Overtime, bonus, commission, child support, part-time work, or self-employment income may need history, documentation, and continuance.
We recommend: Ask early which income can actually be used for qualifying.
Do not send screenshots or cropped photos.
Screenshots, partial pages, balance summaries, and cropped photos often create repeat requests because the lender needs complete official documents.
We recommend: Download full PDFs directly from the bank, payroll, or benefits portal.
Do not omit blank pages.
If a statement says page 1 of 6, the lender usually needs all 6 pages, even if the last page is blank.
We recommend: Send the entire statement exactly as issued.
Do not alter or mark up documents.
Edited documents, covered account numbers, blacked-out transactions, or modified PDFs can create major review problems.
We recommend: Send original documents and ask before redacting anything.