Do's and Don'ts

During the processing of your loan, there are certain “Do’s and Don’ts” which may affect the outcome of your loan request. These remain in effect from the time you submit an application until your loan is funded, which in some cases is 3 business days after closing.

*YOUR EMPLOYMENT, CREDIT, AND ASSETS WILL BE RE-VERIFIED THE DAY YOU CLOSE*

We hope this information will help you understand the different things that could adversely affect your loan approval.

 

MAKE SURE YOU DO NOT:

  1. Change jobs unless it is in the same line of work and your base starting pay will be higher than you currently earn.
  2. Allow anyone to make an inquiry on your credit report.
  3. Charge bank accounts or transfer money within your existing accounts.
  4. Deposit cash funds from your safe, your home, or received from other parties.
  5. Co-sign for anyone on anything.
  6. Purchase any other real estate.
  7. Apply for credit anywhere or complete any other credit applications.
  8. Start any home improvements that are not a condition of the loan.
  9. Do not finance any purchases.
  10. Lease a car, unless it’s for a smaller payment than you currently have.

MAKE SURE YOU DO:

  1. Keep all accounts current including mortgages, car payments, and credit cards.
  2. Keep copies of all paycheck stubs, bank statements, and any statements on bills being paid off during the closing of this loan.
  3. Make payments on all accounts on or before due dates, even if the account is paid off with your new loan.
  4. Call or email us any time with questions or concerns.

Thank you, we look forward to working with you!

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