When you are applying for a home loan, it's important to have everything just right. Errors made before or during the process can result in a higher interest rate or not getting approved for a loan that you otherwise would have gotten.
Make sure to speak with your lender and/or a financial advisor to see what options make sense for your specific financial situation.
To make sure that everything goes well when it's time to talk to the bank, keep these mortgage mistakes and the way to avoid them in mind:
1. Paying off Debt Right Before Applying
It's human nature: you are running your credit and discover an old balance you forgot about. While you may have the funds handy to make good on your debt, you won't usually want do this right…