Things you should and shouldn’t do before you buy a home.

There are two sides to this: the financial side, and the lifestyle side. Today I want to focus on the financial side, but I’ll be back soon to talk about the lifestyle side.

On the financial side, you’ll want to talk to both a Realtor and a lender. The Realtor can tell you how the market is behaving and what your dollar can buy. The lender can educate you about types of financing that you may qualify for.

If you have your down payment ready and your lending is in place, make sure you don’t do the following, otherwise you may jeopardize your financing:

• Don’t buy a car, furniture, appliances, or any major purchases.
  • Save those purchases for after closing on the home.
• Don’t change bank accounts, co-sign any loans, take on new debt or miss payments.
• Don’t change jobs or become self employed.
  • If it’s unavoidable, talk to your lender first and see how it may affect your home purchase.

Traditionally, buyers set aside a down payment of 20% to avoid paying mortgage insurance. If this isn’t an option for you, talk to a lender and see what options they have.

Still unsure if a certain move will jeopardize your financing or simply looking for lender suggestions? Don’t hesitate to reach out!