What not to tell a mortgage lender?
When working through a complex mortgage home loan approval process, applicants must avoid sharing casual remarks or financial inconsistencies with loan officers. Borrowers should never mention intentions to change careers, transition to independent contracting, or make large unverified cash withdrawals for major purchases before closing. Additionally, applicants should avoid concealing secondary income sources, undisclosed child support obligations, or pending legal actions that could negatively alter their calculated debt-to-income ratios.
Related FAQs
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