Getting a pre-approval is one step of the mortgage approval process. Having a smooth loan process depends partially on you. As a potential homeowner you must remain responsible throughout the process. In the end only you can determine your future. Here are some tips to help you stay connected to your end goals.
- DO continue making your mortgage or rent payments
- DO stay current on all existing accounts
- DO keep working at your current employer
- DO keep your same insurance company
- DO continue living at your current residence
- DO call us if you have any questions
- DON’T make a major purchase (car, boat, fur, jewelry, etc.)
- DON’T apply for new credit (even if you seem pre-approved)
- DON’T open a new credit card
- DON’T transfer any balances from one account to another
- DON’T deposit money into the bank that you can’t explain
- DON’T pay off charge offs without a discussion with us first
- DON’T pay off collections without a discussions with us first
- DON’T buy any furniture
- DON’T close any credit card accounts
- DON’T change bank accounts
- DON’T max out or over charge on you credit card accounts
- DON’T consolidate your debt onto 1 or 2 credit cards
- DON’T take out a new loan
- DON’T start any home improvement projects
- DON’T finance any elective medical procedure
- DON’T open a new cellular phone account
- DON’T join a new fitness club
- DON’T pay off any loans or credit cards without discussing it with us
If you encounter a special situation, it is best to mention it to us right
away so we can help you determine the best way to achieve your goals.
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