Tips for a Smooth Loan Approval
The Do’s & Dont’s
Here is a list of helpful tips to ensure an effortless loan process. These Do’s & Dont’s will help avoid delays with your loan approval.
Do’s
Dont’s
- Immediately inform us of any change in your employment, income and asset status.
- Continue living at your current residence.
- Continue making your mortgage or rent payments.
- Keep working at your current employer.
- Stay current on all existing accounts.
- Explain any credit blemishes and credit inquiries.
- Research and choose a homeowners insurance company and program.
- Make any major purchases.
- Apply for new credit or loans.
- Pay of any charge off accounts, collections, loans, credit cards or consolidate your debt.
- Close any credit card accounts, max out or over charge on your credit accounts.
- Change bank accounts or transfer balances from one account to another.
- Change your sources of closing funds.
- Deposit large amounts of cash into your bank account without proper documentation.