Following mortgage application do’s and don’ts is critical to ensuring smooth loan approval and avoiding last-minute denial or delays. Many Nebraska homebuyers unknowingly sabotage their mortgage approval by changing jobs, opening new credit accounts, making large purchases, or other financial changes between application and closing. These “10 Commandments” outline exactly what NOT to do during your mortgage process—from application through closing day. One wrong move can delay your closing or even result in loan denial after you’re already under contract, so take these rules seriously.
Thou shall not change jobs or become self-employed.
Thou shall not buy a car, truck or van unless you plan to live in it.
Thou shall not use your credit cards or let your payments fall behind.
Thou shall not spend the money you have saved for your down payment.
Thou shall not buy furniture before you buy your house.
Thou shall not originate any new inquiries on your credit report.
Thou shall not make any large deposits into your bank account.
Thou shall not change bank accounts.
Thou shall not co-sign for anyone.
Thou shall not purchase ANYTHING until after the closing.