Are you looking to purchase, refinance, or build a home? For many, this is a more extended loan process than most people are used to. With that in mind, here are some Dos and Don'ts to follow during the mortgage process.

First and foremost, Do keep all existing credit cards and lines of credit open. Closing out lines of credit can harm your credit score because it reduces the total amount of credit available to you. When you have less total credit available to you, this will make your credit utilization go up.

Along with this Do about credit utilization comes two Don'ts. First, don't apply for credit of any kind. While having lower overall credit utilization is good, having new credit inquiries can hurt your credit score. These inquiries may be only temporary dings to your report. Considering you're looking to close on a mortgage in a short time, you want to keep your report pristine for the time being. The second Don't here is don't max out your existing credit cards. This goes along with the theme of credit utilization. We want to keep that low because that will keep your credit score high and help your interest rate when it comes time to close on your mortgage.

Furthermore, Don't cosign a new loan for anyone during the mortgage process. Cosigning a loan would increase your credit utilization and debt-to-income ratio, and increase your credit utilization. Furthermore, since we're looking at the mortgage process, the time between when you're preapproved and you close, lenders will want to see your credit report stay the same during that time.

Another Do is to maintain employment at your current job. Throughout the mortgage process, we verify your employment. Any changes in employment between the initial application and closing will be a bump in the road for your mortgage lender. So, if you're hunting for a job, postpone any moves until your mortgage is finalized.

Our next Don't is don't make any large purchases. A large purchase counts as anything that can affect your debt-to-income ratio. Again, from the beginning to the end of your mortgage process, you will want to ensure that your overall financial picture stays the same. A change in your finances between prequalification and closing can negatively affect your overall loan conditions. If you choose to pay cash for a large purchase, you need to consider your overall cash reserve. You will need to pay cash for your closing costs and have something left over once you get moved in.

Our last Do is Do stay in contact with us! Our loan officers are here to help you through the process. We know it can be stressful, and that's why we're here to walk you through it. Some of these things can be unavoidable during the mortgage process, but if your lender knows about them when they happen, you'll be in a much better situation than if they don't.

Have any questions or concerns about the mortgage process? Be sure to schedule an appointment with our mortgage team by visiting our Home Loans page. We are here for our members and are willing to do nearly anything to help you through this rewarding process.