TIPS & TRICKS
Advise your Mortgage Specialist if any information you initially provided has changed. This can include address, job, or salary.
Keep records of all bank transactions, especially if you transfer large amounts of money from one account to another.
Protect your credit score. Pay all your bills on time, including loans, utilities and mortgage payments.
Talk with your Mortgage Specialist about any outstanding collections, judgements, liens, etc.
Talk with your Mortgage Specialist about any questions or concerns you may have about the process.
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!
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.
Change your overall assets structure. This could include changing investments, opening/closings accounts or undocumented large deposits.