A Guide to Prevent Loan Delays and Possible Rejection
We’ll help guide you through the mortgage lending process, from pre-approval through a successful close. During the process, it’s important to minimize changes to your career and financial situation to avoid unexpected delays and possible rejection. Somethings it’s easier to remember what NOT to do. Here are ten tips to guide you:
Don’t make large non-payroll deposits without checking with you Loan Originator.
Don’t open a different bank account.
Don’t change jobs, become self-employed, or quick your job.
Don’t take any unpaid time off.
Don’t spend money you have set aside for closing.
Don’t use credit cards excessively, let your accounts fall behind, or increase credit limits.
Don’t apply for any new credit accounts.
Don’t buy furniture or appliances.
Don’t buy a car, truck, van or other type of vehicle.
Don’t co-sign a loan for anyone.
