What Not to Do During the Mortgage Process (Avoid These 10 Mistakes)

Homeowners should avoid common mortgage mistakes such as not shopping around for lenders, paying off debt before pre-approval, quitting a job, and lacking cash for closing costs. Other pitfalls include accepting undocumented cash, failing to check credit reports, co-signing loans, and not getting pre-approved. Buyers should also avoid shopping at the top of their budget and misunderstandings about PMI and loan points. Planning and consulting with a mortgage advisor can help navigate these challenges.