ARTICLESNEW MORTGAGE
Common Mortgage Mistakes—and How to Avoid Them
Updated on March 2025
Table of Contents
At A Glance
- Changing jobs or credit mid-process
- Underestimating total costs
- Skipping rate comparisons
- Misunderstanding loan terms
What are the most common mortgage mistakes?
Many buyers unintentionally create problems by changing finances, overlooking costs, or misunderstanding loan terms during the mortgage process.
Most mistakes are avoidable with awareness.
Top Mistakes
-
Making Major Financial Changes
Avoid: New credit cards, Large purchases, Job changes -
Focusing Only on Interest Rate
APR, fees, and terms matter too. -
Ignoring Long-Term Affordability
Approval ≠ comfort. -
Not Comparing Loan Options
Rates and fees vary by lender.
Common Questions
Can mistakes delay closing?
Yes—sometimes enough to cancel a deal.
Can mistakes raise my interest rate?
Absolutely, especially credit-related changes.
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