If you’re buying a house in the next year, read this before you do anything else.
When I bought my first house, I had no idea what I was doing and nothing made sense. Everyone involved assumed someone else had explained it to me. This series is the walkthrough I wish I’d had.
Everybody tells you to start by getting pre-approved. Do these 3 things first, starting about 90 days before you talk to a lender.
1. Don’t touch your credit
Don’t open anything, don’t close anything, don’t finance anything. No car, no furniture, no buy now pay later. New debt shrinks how much house you can qualify for, and that includes anything you co-signed.
2. Don’t switch jobs
Lenders want to see steady income. A job change right before you apply can slow things down or complicate your approval.
3. Know where your money came from
They’re going to ask. Large deposits get questioned, and cash you deposit is hard to use because there’s no paper trail. If family is helping with the down payment, get that money in your account early with a clear record, not the week of closing.
Next: Part 2, waiting on interest rates.
What I actually use: Fidelity for investing, the Amex Gold for everyday spending, and the rest on my What I Use page.
General education, not advice for your situation. Lender requirements vary.
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