Dealing with Accounts - If contemplating applying for a mortgage loan, avoid closing bank accounts and opening new ones. Mortgage lenders carefully examine each applicant's finances. This includes gross salary, savings accounts, retirement accounts, etc. As part of the loan application, potential borrowers must provide banking statements for the previous 3 - 4 months. Lenders are suspicious of new banking accounts. Moreover, be prepared to explain any large deposits or withdrawals.

Avoid Changing Jobs - Sometimes, switching employers a few months before applying for a home loan is unavoidable. For example, a new job may result in relocating, in which buying a new home is necessary. However, if changing jobs, try to remain within the same field. Moreover, avoid switching to a commission-based salary or self-employment. This can have a negative affect on mortgage loan approval. In such a situation, purchase the home first.

Stay Away from Large Purchases - If thinking about financing a new car - don't. The monthly expense of financing a vehicle will impact the amount of house you can afford. Instead, buy the home first, and then purchase the car.