Approval Do’s and Don’ts
Here is a list of helpful tips to help expedite the loan process
The Do’s
• DO try to get your loan documents and checklist items back to us ASAP
• DO continue making your mortgage and/or rent payments
• DO stay current on all existing credit accounts
• DO continue living at your current residence
• DO continue using your credit as normal
• DO call us with any questions
• DO keep documentation for all non-payroll deposits
• DO know what account money from closing will come from
• DO know that funds for closing need to be certified check or wire (check with your title company)
The Don’ts
• DON’T make unnecessary banking transfers
• DON’T change banks during the process
• DON’T pay off any loans or credit cards without discussing with us
• DON’T make any major purchases (car, jewelry, boat, etc.)
• DON’T apply for new credit (even if already pre-approved)
• DON’T open any new credit cards
• DON’T pay off any collections without a discussion with us first
• DON’T pay off any charge off without a discussion with us first
• DON’T transfer any credit balance from one account to another
• DON’T take any credit card advances
• DON’T dispute any credit accounts
• DON’T close any credit card accounts
• DON’T change employment status or compensation type without checking with us first
• DON’T start any new home improvement projects
– COMMUNICATION IS KEY –
Please DO call your loan officer with any questions or concerns.
Printable DO's and DON'Ts Worksheet
Download a copy of the Do’s and Don’ts to keep for your convenience!