The mistakes outlined below are surprisingly common among first-time homebuyers. Many seem harmless or even necessary in the moment, but they can have an outsized impact on your DTI and your mortgage approval chances. The good news? They're entirely preventable once you know what to watch for. By understanding these pitfalls before you encounter them, you can navigate your path to homeownership with confidence and avoid costly delays.

Your debt-to-income ratio can make or break your mortgage application. This single number tells lenders whether you can comfortably afford monthly mortgage payments on top of your existing debt obligations, and if your DTI is too high, you'll either be denied or offered less favorable terms.

Your debt-to-income ratio (DTI) is the percentage of your monthly income that goes toward paying debts. Lenders use this number to assess whether you can realistically afford to take on a mortgage payment alongside your existing financial obligations. A high DTI signals to lenders that you might struggle to manage additional debt, while a lower DTI shows you have room in your budget for a mortgage payment.