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Protect Your Credit Score During the Home Loan Process

Protecting your credit score is critical when you're in the process of buying a new home. Your rate and loan costs could be affected by even a slight change.

Be sure to:

  • Make payments on time. Keep up with your current bills and avoid late payments.

  • When possible, pay off the total balance instead of just making the minimum payment required.

  • Stay at your current job. A change now can affect your credit score and delay or derail your loan application.

Be sure NOT to:

  • Apply for new credit. This will definitely impact your score.

  • Make any large purchases. This includes buying items for your new home! Wait until your loan closes to purchase a new living room set or appliances.

  • Deposit a large amount of cash, unless you can track its origin thoroughly and it's allowed within your loan parameters.​

Your credit report may be pulled several times throughout the course of processing your home loan, so keep the above advice in mind. And always be sure to inform your loan officer of any changes to your income, debts, purchases, or other financial matters. Together we can keep the homebuying process smooth and stress-free!

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