When Applying for a Mortgage
Mortgage application mistakes in Idaho can cost you your dream home - or at least delay closing long enough to drive you crazy. Whether you’re buying in Boise, Meridian, or Nampa, the mortgage process is full of do’s and (more importantly) do NOTs.
Before you accidentally sabotage your home loan, let's go over what not to do after applying for a mortgage in Idaho.
Here's your new Idahoan-friendly guide to what NOT to do when applying for a mortgage. Trust us, your underwriter will thank you.
Thinking about buying a new Ford F-150 or a four-piece sectional for the living room? Hit the brakes. Adding large purchases to your credit report can mess up your debt-to-income ratio, and that's a no-no.
Idaho Tip: You'll have plenty of time to upgrade your gear once you close. Until then, drive the beater and sit on the floor. We believe in you.
Lenders love stability. Changing employers - or worse, becoming self-employed mid-loan - is like shaking the Magic 8 Ball: Outlook not so good.
Local Wisdom: If you're eyeing a new gig in Meridian, talk to your loan officer first. New jobs are great. New paperwork? Not so much.
We get it. HomeGoods has beautiful blinds, and that in-store discount is tempting. But opening new lines of credit dings your score and raises red flags.
Idaho Insight: Lenders here are conservative. Your future mortgage matters more than 10% off curtains in Eagle.
It's not you, it's your credit history. Old accounts - even if unused - show longevity and keep your utilization low.
Boise Advice: Think of that 10-year-old credit card like an old pickup - may not look flashy, but it gets the job done.
Even a 30-day late on a $12 bill can derail your entire application. Payment history is a huge part of your credit score.
Pro Tip: Set up autopay and focus on packing boxes - not tracking bills in your email spam folder.
Any sudden, undocumented deposit can cause delays. Your lender needs to know where every penny came from.
Idaho Tip: Gifts from family? Get a signed gift letter. Selling your side-by-side? Document it. Underwriters want facts, not fish tales.
Helping your cousin get a new ATV sounds noble. But co-signing makes you financially responsible, and lenders count that debt against you.
Local Truth: Let your cousin enjoy the backcountry without your credit score tagging along.
Check for errors, collections, or outdated information. Even a wrong address can slow things down.
Idaho Hack: You get one free credit report a year - use it. Especially if you've lived in half the Treasure Valley. Find that report here: Annual Credit Report
Transferring funds between accounts can confuse underwriting and delay approval.
Simple Rule: Choose one checking account for all deposits and keep it steady until your loan closes.
We're not clingy, but we do need to know what's going on. If something changes - your job, your income, or your financial situation - let us know early.
1st Choice Mortgage: We've seen it all, and we'd rather help than fix surprises a week before closing.
Buying a home in Idaho is exciting, but even small mortgage application mistakes can turn your deal sideways. By steering clear of these missteps, you’re not just protecting your credit - you’re protecting your peace of mind.
If you’re unsure about something, don't guess - ask your Idaho mortgage expert. That's us!
📞 Call us at (208) 375-5626 or Contact Us Here - and we'll help you get from pre-approval to closing without a hitch.
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