Nobody wants their mortgage application to end up in the trash. Here are the 5 TOP reasons why this might happen, so you can avoid them!
5 Reasons Mortgage Applications End Up in the "Reject" Pile
1. You don't use credit cards enough
Yes, having too much credit card debt can be a "kiss of death," but having none at all is also a problem. Try building good credit by paying off your debts responsibly.
2. You opened credit cards recently
Opening a new credit card usually dips your credit around 5 points, which, poorly timed (right before applying for a mortgage), can be a problem. If you want to buy a house, put the Macy's credit card on hold.
3. You missed a medical bill
A black mark on your credit report as a result of medical bills is no good