Buy a Home Do’s and Don’ts

Stan Miller Uncategorized December 20, 2022 | 0

A loan denied just before closing is absolutely devastating, especially if when it was entirely preventable. Did you know that once a loan is submitted, significant changes in your financial circumstances can cause the underwriter to reject the loan? Below is a Top 10 list of Do’s and Don’t to close successfully.

DO continue paying bills on time
DON’T open any new credit accounts
DO try to save money, but DON’T change or open new bank accounts
DON’T leave or change employment
DO continue to work full time hours
DON’T reduce hours or take a leave of absence
DO liquidate and consolidate funds for closing
DON’T deposit any cash or large un-sourced deposits
DO save the entire paper trail from deposits/transfers
DO contact your Loan Officer for guidance on any upcoming changes in your financials.

If you have any questions, please call us at (800) 890-5434

#Buying Home Do's and Don'ts