Here are a few tips if next year you are interested in purchasing a home!
DO NOT deposit large sum of cash
Lenders need to be able to trace your money! Talk to them before depositing are large amount of cash
DO NOT make any large purchases
That shiny new car or large furniture set may seem tempting but the main focus is a home! New debit = higher income-to-debt ratio i.e. you turn into a riskier loan!
DO NOT co-sign on any loans for anyone
When doing this you make yourself responsible is someone else doesn't pay! That shows up as a red flag and technically that becomes your debt to assume.
DO NOT switch bank accounts
Consistency is key when trying to secure a loan. They like to see long term placement of your financial situation.
DO NOT apply for new credit cards
If you need to open new lines of credit you may want to consider waiting to improve your credit first! Doing so shows you can reliably pay back your debts thus showing consistency to your obligations.
DO NOT close any of your accounts
The length and depth of your credit history is a vital part of showing the strength of your credit score. Having credit and how much of that credit available shows the ability to manage your funds to pay back debts.
DO discuss any changes with your lender
You can't hide your financial situation from your lender. They always find out just like your mother! Be honest and up front to get a realistic amount that you can borrow to keep your goals realistic.
Follow these tips and your loan officer will love you! It'll make the process much simpler and smoother for all parties and get you to where you want to be in no time!