---
title: Top 3 Mortgage Mistakes to Avoid When You Purchase a Home
description: If you're looking to purchase a home soon, or in the near future, these are the top 3 mortgage mistakes to avoid if you're hoping for a smooth closing.
---

[Blog | GVC Mortgage, Inc. ](https://www.gvcmortgage.com/blog)

# [Top 3 Mortgage Mistakes to Avoid When You Purchase a Home](https://www.gvcmortgage.com/blog/top-3-mortgage-mistakes-to-avoid-when-you-purchase-a-home)

 Written by [GVC Mortgage, Inc.](https://www.gvcmortgage.com/blog/author/gvc-mortgage-inc-) | Jul 19, 2016 4:00:00 AM

## Top 3 Mortgage Mistakes to Avoid When You Purchase a Home

**Start transcript**

My name is Brock Walradth and I am the production manager at GVC Mortgage.

# What are the top 3 mortgage mistakes to avoid when purchasing a home?

When a consumer is applying for a mortgage, they need to really focus on stability. So the three tips I would give someone is:

# **1. Have stability with your job**

Don’t change jobs even if you get a raise, or it’s a better opportunity or better hours. Don’t change. That change can create friction in the underwriting process.

# **2. Have stability with your credit**

Same thing with your credit. Make sure you’re paying your bills on time in the lead up to the application. Once the application is made, don’t rack up new debts, don’t open new accounts, and don’t take out new loans. Don’t even change the balance because that can impact your credit score.

# **3. Have financial documentation**

The third thing is with your finances. So your checking account or your savings account. Whatever balance you put on the application make sure you have the documentation to support it.

So any change in any of those three factors can lead to underwriting issues.

# Why should you avoid these 3 mistakes?

When you change jobs or change any of those items you show instability. When you’re going through the underwriting process purchasing your home you’re trying to prove your credit worthiness so if you have very small changes it can lead to big issues, so just try to avoid them at all cost.

# What if you lose your job or absolutely have to change jobs?

There’s a little bit flexibility for a job change, even during the process, but the key to that is being upfront with your loan officer. So if you do get let go from your job and your start a new position the next Friday or the next Monday, whatever that date may be, with most loan programs you can close with a 30 day paystub as long as you don’t have a gap. Although it might delay your closing, it might not be deal killer, but if you can avoid it, definitely do so.

**End transcript**

# ***Key Takeaways for Borrowers***

> When applying for a mortgage, focus on stability with your job, credit, and finances.

> Be upfront about potential issues so they can be addressed earlier rather than later.

> Very small changes can lead to big issues.

<https://gvc.mortgageexpressapp.com/borrower/signup/gvcmortgage@gvcmortgage.com>

[View full post](https://www.gvcmortgage.com/blog/top-3-mortgage-mistakes-to-avoid-when-you-purchase-a-home)

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