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Loan Process

TIPS & TRICKS

DO

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Advise your Mortgage Specialist if any information you initially provided has changed. This can include address, job, or salary.

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Keep records of all bank transactions, especially if you transfer large amounts of money from one account to another. 

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Protect your credit score. Pay all your bills on time, including loans, utilities and mortgage payments. 

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Talk with your Mortgage Specialist about any outstanding collections, judgements, liens, etc. 

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Talk with your Mortgage Specialist about any questions or concerns you may have about the process. 

 

DON'T

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Make any significant purchases during the mortgage process. It could negatively affect your debt-to-income ratio. 

Pay off collections or charge-offs without talking to your Mortgage Specialist. This can actually cause your credit score to drop – strange, but true! 

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Feel like you need to “cover up” any situations. The more we know, the more we can help find a solution and keep things on track. 

Cosign for another borrower. This will show up as additional debt and could affect your credit. 

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Change your overall assets structure. This could include changing investments, opening/closings accounts or undocumented large deposits.