LOANGIANT DO'S & DON'TS

DON'TS WHILE APPLYING AND FUNDING YOUR LOAN:​

• Don't: Go house shopping without knowing what you can afford.

• Don't: Think you have to do it alone.

• Don't: Open or close credit lines without consulting a credit professional.

• Don't: Be slow to respond to your loan team.

• Don't: Make major purchases.

• Don't: Make major changes such as quitting your job or changing jobs.

• Don't: Make large cash deposits into your bank account other than your paycheck.

• Don't: Be surprised if you are asked for additional documents.

• Don’t: Quit Your Job!  Lenders will verify your employment within 24 hours of closing.

• Don’t: Apply for Any New Credit of any kind.

• Don’t: Pay Off Any Collections unless told to do so by your loan officer.

• Don’t: Close Credit Card Accounts.

• Don’t: Change Jobs during the process of buying a home

• Don’t: Go Shopping for a Home without a pre-approval letter.

• Don’t: Make Undocumented Deposits into your bank accounts – NO CASH!

• Don’t: transfer Credit Card Balances during the loan process

• Don’t: take cash advances on credit lines for money to purchase the home.

• Don’t: spend your money that you need before you purchase the home.