Do's and Dont's
Avoid changes in your employment or source of income
Contact your Sr. Mortgage Specialist if you have any change of income. Even a raise or bonus or any major lifestyle change.
Avoid major lifestyle changes, such as a change in residence, marital status, business ownership, etc. during the loan process.
Pay any outstanding collections, judgements, liens, etc. These usually need to be paid in full to complete your mortgage transaction.
Avoid shifting money around from one bank account to another. Any large unidentified deposit in a bank account will likely need to be explained in documentation.
Try to purchase any major items on either a cash or credit basis.
Do anything that will damage your credit record. This includes late payments on any type.
Co-sign on any new credit/loan accounts for relatives or friends, as you will be responsible for that debt.
Feel like you need to "cover up" any situations. We are working together to help you. We'll let you know if there is a reason to worry and help you solve any issues.
Hesitate to call us with any questions, disclose new information or discuss any concerns.