These Top 10 Dos and Don’ts can greatly impact your ability to qualify for a home loan or close on time. It is critical you follow these ten things to help ensure your home loan process goes smoothly.
- Don’t apply for new credit or make major credit purchases
- Don’t close or max out credit cards AND stay current on payments
- Don’t change jobs
- Don’t switch banks, move your money around, or deposit large amounts of cash or non-payroll checks into your bank account
- Don’t leave town for an extended period during escrow
- Do keep a paper trail for charge offs and/or collection payoffs
- Do keep a paper trail for all non-payroll deposits into your bank accounts
- Do wire gift funds directly to the escrow company
- Do advise your Mortgage Loan Originator of any debts not reporting on your credit report
- Do call your VITEK Mortgage Loan Originator if you have questions!
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