5 Things to Avoid After Applying for Your Mortgage!

We know what your lender is looking for.  And we want to present your documentation

with those facts in mind, to help strengthen your loan application. Once you apply for

your mortgage, think “snapshot.” Your lender essentially “takes a picture” of your

financial status.

If anything in that picture changes during the loan approval process, it can wave a red

flag, causing delays or may even prevent you from getting the loan!

You’ve got questions, we’ve got answers. We’re here for you every step of the way!

FOLLOW THESE TIP TO AVOID ANY CLOSING DELAYS!

• AVOID applying for more credit:

Too much activity could lower your credit score and/or increase your debt to-

income ratio enough to increase your rate or may even affect loan approval.

• AVOID changing jobs, if possible:

We’ll need to notify your lender of any new job, new position, or income

changes that occur after you apply.

• AVOID closing any accounts:

While it may make sense at some point to pay off your credit card debt, closing an

account during loan approval actually lowers your score since you’ll have less available credit.

• AVOID making any out-of-the norm deposits or withdrawals:

The paper trail is key! We’ll help you find the best way to approach

this, should it become an issue.

• AVOID paying off an old collection:

Instead of helping your credit score, paying off an old bill could actually do

just the opposite. Any changes, even those that sound great, will raise a red flag by pushing that collection notice to the top of your report!