Going through the process of financing your home can result in your dreams fulfilled or an unending nightmare. The difference is being prepared. To give yourself the best shot of financial happiness, don’t do the following:

Don’t change jobs. If you’re trying to buy a new home, now is not the time to follow your heart and start a business. Most lenders are looking for a minimum of two years employment in the same line of work, preferably with the same company. Pursue one dream at a time and, unless it can’t be avoided, make the job change after you buy your dream home.

Don’t deplete your savings or run up your credit card debt. Even though you can afford to spend your savings or make high monthly payments, when you go to buy a home that new car, flat screen TV or trip to Hawaii could make a big difference in your interest rate as well as how much of a home you can afford to buy. If you’re serious about buying a home, avoid spending money until after the close of escrow. Keep you debt down and save as much money as possible. Even if you’re getting 100% financing, you’ll still need funds to cover closing costs and most lenders require cash reserves after the close of escrow.

Don’t mess with your credit. Despite all the hype about how to manipulate your FICO scores, don’t try to alter your credit report without talking to a professional. Paying off or closing the wrong accounts to try to raise your score could backfire on you. Most lenders require that you have four open accounts with a two year minimum history. Also, please be careful when balance transferring debt. I know the 0 percent interest rate is appealing, but your FICO scores will actually be higher if your balances are spread across several accounts versus being on just one card.

Don’t pay off all your debt. Some debts, like installment loans with less than 7 payments remaining, are not included in the some lenders debt-to-income ratio, but having more cash to close may make the difference in having your offer accepted, especially in today’s highly competitive real estate market. Also, paying down your debts to 50% will have a bigger impact on your FICO scores than paying off half of your creditors. Whatever you payoff, make sure to keep copies of your checks since it may take 30-60 days to hit your credit report. Again, this is the time to seek professional advice.

Don’t secretly borrow your down payment. Lender guidelines and debt-to-income ratios are designed to protect you as well as the lender. Reputable lenders do not want to give you more money than you can afford and then take back your home when you’re unable to make payments. If you’ll have to pay back the down payment, it will affect your ability to meet your total obligations. If the down payment is a gift, get it in writing. Otherwise your secret could be found out and you could lose your dream home.

Don’t wait for a better market and/or interest rate. You could wait indefinitely and miss out on the tax benefits as well as joy of home ownership. Most people who waited to buy to save for a down payment were outpaced by the market. With 100%, 103% and 107% financing, get in now to leverage your good credit and income. You don’t want to regret not having bought like many who are kicking themselves for not getting in before the real estate boom.