1-DON’T APPLY FOR NEW CREDIT
You could lose 10 points from your credit score for one hardy inquiry!
2-DON’T CREATE “RED FLAGS”
The less activity on your reports during the loan process activity the better.
Even something seemingly as harmless as paying down a large credit card balance or changing your normal pattern of credit card usage can raise red flags!
3-DON’T MISS A SINGLE PAYMENT
Keep current on your mortgage, auto loans, credit cards and other payments. A single past due payment can drop your credit score 90 to 100 points!
4-DON’T SWITCH BANK ACCOUNT FUNDS
Do not switch money (funds) from one bank account to another. Avoid making cash deposits unless you can prove where those funds came from.
5-DON’T TRANSFER RETIREMENT ACCOUNT FUNDS
Do not transfer any funds from your retirement accounts until we talk. Find out in advance how long it will take to process your withdraw. It might be your advantage to have these account pay directly to your escrow/title company.
WE WORK WITH YOU EVERY STEP OF THE WAY!
Remember, your credit could be re-pulled prior to closing. Our best advise is to avoid any major purchases or changes in your financial activity that may impact your credit report- until after your new loan is closed!!
Give us a call today!
RoseMarie Zúñiga
Your Marketing Manager