Most would-be homebuyers know that it's not a good idea to open new credit cards or take out other loans while trying to get a mortgage.
But according to Business Insider, it doesn't stop there. Make sure you don't do any moving around of the money you've set aside for the down payment.
That's because prior to final approval of your mortgage, lenders have to trace the origins of any transferred money for at least the past two months.
While moving money around may get you a higher interest rate, it also means you'll have more loose ends to tie up in collecting your documentation.
So once you're pre-approved, save yourself some hassle and leave your money alone. If nothing else, it will simplify an already complicated process.
