Home buyers make a lot of mistakes that hurt their chances of getting a mortgage pre-approval from their lender. You don’t want to join their ranks and sabotage your home purchase.
To find out what those missteps are, we talked to two lending experts: Casey Fleming, a mortgage advisor with C2 Financial Corp. in San Jose, and Heather McRae, a senior loan officer with Chicago Financial Services.
Here are the six common mistakes — and tips to avoid them:
1. Closing credit accounts
Once you’ve paid off a credit card or revolving debt account, you might be tempted to close the account so you don’t run it up again. But doing so...