When you are in the process of purchasing a home it seems like EVERYONE has some advice for you! Please do not take any financial advise from friends and family without first consulting your lender. It is imperative as you could completely jeopardize your entire transaction and lose your earnest money in the process! Here are some helpful tips but remember, before you do anything to consult with your loan officer!
TIPS TO MAKE LOAN APPLICATION AND PROCESSING SIMPLE!!
DO Call us if you have any questions
DO Provide requested documentation promptly and include all items and pages
DO Continue living at your current residence
DO Continue making your mortgage or rent payment
DO Continue to use your credit as normal
DO Keep your SAME job/ Employer
DO Stay Current on ALL accounts!
DO NOT QUIT OR CHANGE JOBS!
DO NOT Change marital status
DO NOT Make any major purchases (new car, furniture, appliances, mattress etc)
DO NOT Change bank accounts
DO NOT Make any large cash deposits into your bank account
DO NOT Transfer any balances from one account to another
DO NOT Close any credit card accounts
DO NOT Consolidate you debt onto one or two credit cards
DO NOT Max out or over charge credit cards
DO NOT Bounce a check
DO NOT Allow a bank account to go negative
DO NOT Take out a new loan or co-sign on any loan
DO NOT Pay off charge off’s or collections without discussing with your loan officer
DO NOT Finance any medical procedures
DO NOT Join a fitness club
DO NOT Open a new cell phone account
DO NOT Have your credit pulled by ANY company.
DO NOT Accept “Pre-Approved” offers
DO NOT Have your credit pulled or dispute any information on your credit report.