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Mortgage and Home Loans Do's and Don'ts 

Applying for a mortgage or home loan can be very stressful and complex but it doesn't have to be if you know what you're up against. 

Click here to review your Mortgage or Home Loan Checklist. 

 

Here are some Do's and Don'ts tips for a smooth and stress-free closing.

  • DO respond quickly to requests for information to avoid delays in the mortgage and loan process.
  • DON'T deposit cash to your bank account -  Cash deposits will NOT be considered available funds.
  • DO provide documentation for any non-payroll deposits - gifts from family members call for additional documentation.
  • DON'T open any new bank accounts or apply for any new credit card accounts to take out a loan or lease - any new accounts will be considered into your debt-to-income ratio and will require additional underwriting which may cause delays or negate /void your application.
  • DON'T allow anyone to pull or check your credit score until after you close on your mortgage - all credit inquiries are monitored and will require detailed explanation on your part.
  • DO keep current on your existing credit card accounts - your credit is monitored throughout the mortgage or home loan process.
  • DON'T purchase any major items, such as furniture, car, boat or jewelry during the mortgage process.
  • DO pay off any past due collections, judgments or tax liens reporting on your credit report.
  • DON'T quit or change jogs - all underwriters will verbally verify your employment on the day of your closing.
  • DO Call Me!  I can assist you locate the best mortgage company or home loan provider for your Celebration, Kissimmee or Orlando Florida new home purchase!

407-361-4064

or email me at: Claud@OrlandoPremiumProperties.Com