How to prepare your finances before you apply for a home loan
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Start with the whole picture
Before choosing a loan, list your income, savings, debts, and goals. The loan should support the plan, not the other way around.
Check your credit reports
Review your reports for errors and pay down revolving balances where you can.
Keep your savings organized
Lenders look at where your down payment and reserves come from. Avoid large unexplained deposits.
Hold off on big financial moves
New debt, a job change, or closing accounts can affect approval. Talk to your loan consultant first.
Talk to a lender early
An early conversation shows your real budget and which programs may fit.