Although you may not be considering purchasing a home now, I wanted to share some valuable advice to save for your future self. Avoid significant life changes that could affect your eligibility. Here are some tips to keep in mind:

◉ Avoid large purchases like furniture or cars, as new debts can increase your debt-to-income ratio and jeopardize your eligibility for a mortgage.

◉ Do not co-sign for other loans, as doing so will increase your debt-to-income ratio and affect your eligibility for a mortgage.

◉ Avoid changing bank accounts, as lenders need to track and verify your assets. Discuss any intended transfers with your Mortgage Broker.

◉ Refrain from applying for new credit, as it can negatively impact your credit score and eligibility for a mortgage.

◉ Do not close any credit accounts, as it can harm your credit score and negatively impact your eligibility for a mortgage.

◉ Any changes to your income, assets, or credit must be reviewed and implemented to ensure your mortgage approval. Additionally, if you’ve experienced any recent changes to your employment or job status, it’s essential to inform your Mortgage Broker.