Helpful Tips

DO

  • Do provide all documentation requested from your lender as soon as possible in order to not delay the loan approval and closing.
  • Provide all documentation from the sale of your current home (e.g., listing and/or purchase agreement, closing disclosure, relocation buyout information).
  • Notify your Mortgage Consultant if any gift funds will be utilized for your down payment.
  • Notify your Mortgage Consultant of any employment/income changes (e.g., change of employer, raise/promotion, change of pay status, such as salary or commission).

DO NOT

  • Open or increase any liabilities during the loan process. This may have an adverse impact on your debt to income ratios.
  • Deposit any large sums of money into your bank accounts without first notifying your Mortgage Consultant. Per lender guidelines, these funds must be documented (e.g., proof of tax refund, bonus check, gift letter with copy of check and donor’s ability).
  • Change jobs/employers without first notifying your Mortgage Consultant about the potential impact this change may have on your loan approval.
  • Make major purchases without first contacting your Mortgage Consultant to determine the impact, if any, this will have on your loan qualification.
  • Close/transfer any asset accounts without first notifying your Mortgage Consultant of the documentation needed to verify the liquidation or transfer.