FALLBROOK – Planning to buy a home? The key is to prepare and maintain excellent financial health. And we’re not just talking about the down payment. Improve your chances of getting approved for a home loan and be eligible for better interest rates and terms – here are some things to avoid before applying for a mortgage:

Making big purchases

If you just bought a car or did advance shopping for furnishings, this will take a big hit on your credit record and debt-to-income ratio and could hurt your mortgage application. Avoid making any credit splurges at all costs if you’re planning...