Tips and Advice

During the processing of your loan there are certain things to keep in mind that may affect the outcome of your loan request. Some of these may seem obvious, but all of these have happened in the past, so please do not assume that they could not apply to your situation. These things could happen until your loan is actually funded. Many times credit, income, and assets are re-verified after you have signed your initial loan application documents.

Please keep the following in mind, your loan could be affected if you:

  • Quit your job or get another job. Please call your mortgage expert if this occurs.
  • Change bank accounts or transfer money within your existing bank accounts.
  • Make counter deposits at the bank for more than $500 that are not attached to your pay (Please contact your loan officer about this if it applies to you. For example, if you do side jobs for money, etc.).
  • Co-sign on a loan for anyone.
  • Purchase an automobile or take on any additional debt.
  • Purchase any other real estate.
  • Apply for credit (again, this will result in an inquiry on your credit report).
  • Charge a large amount on existing credit cards.
  • Start any home improvements which require you to open credit.

Be sure to:

  • Keep all accounts current such as mortgages, car payments, and credit cards.
  • Keep copies of all paycheck stubs and any statements on bills being paid off through the loan process.
  • Make payments on all accounts on or before the due date, even if the account is being paid off.