Tips For A Smooth Home Loan Approval

The following DO’s and DON’Ts may help avoid delays with your loan approval.
DO’S:
1. DO continue making your mortgage or rent payments on time
2. DO stay current on all existing accounts
3. DO keep working at your current employer
4. DO keep your same insurance company (if this is a refinance)
5. DO continue living at your current residence
6. DO continue to use your credit as normal
7. DO call your lender if you have any questions

DON’TS:
1. DON’T make a major purchase (car, boat, jewelry, etc.)
2. DON’T apply for new credit (even if you are pre-approved)
3. DON’T open a new credit card
4. DON’T transfer any balances from one account to another

5. DON’T pay off charge offs without a discussion with us first

6. DON’T pay off collections without a discussion with us first
7. DON’T close any credit card accounts
8. DON’T change bank accounts
9. DON’T max out or over charge on your credit card accounts
10. DON’T consolidate your debt onto 1 or 2 credit cards
11. DON’T take out a new loan
12. DON’T start any home improvement projects (refinances)
13. DON’T pay off any loans or credit cards with discussing with your lender
14. Don’t change jobs…even if you are doing the same type of work without checking with your lender

If you encounter a special situation, it is best to mention it to your lender right away so they can help you determine the best way to achieve your goals.