Mistakes to Avoid

Ten Things You Can Do To Ensure A Smooth And Successful Transaction

1 | Keep your same job! Getting a new job, quitting your job, or becoming self-employed could negatively impact your application.

2 | Wait until AFTER closing to purchase a new car, truck, van, motorcycle, RV, boat, etc. If you need to make a new purchase sooner, talk with your loan officer first to see how it would impact your application.

3 | Maintain regular spending habits. Overusing credit cards could have a negative impact. Keep making your regular timely payments on all accounts, and don’t stop paying your mortgage (if you have one).

4 | Keep your down-payment money in the bank! Don’t spend it, and don’t keep it as cash at home.

5 | Disclose ALL of your monthly debts and obligations up front on your application.

6 | Wait until AFTER closing to buy (finance) furniture, appliances, etc. If you need to buy sooner, consult with your loan officer first.

7 | Avoid new credit inquiries and opening new accounts prior to closing.

8 | Large non-payroll deposits should be discussed with your loan officer BEFORE you deposit them in the bank.

9 | Maintain your existing bank accounts and wait until after closing if you want to open new ones.

10 | Don’t be a co-signer for someone else’s loan.

Mistakes to Avoid

Ten Things You Can Do To Ensure A Smooth And Successful Transaction

If at any time you are unsure about how something might impact your loan application and approval, CONTACT your loan officer!

LOAN PROGRAMS

FINANCING OPTIONS

DISCLAIMER