There are several actions a mortgage professional will advise
you not to take before and during your home loan process.
1. Do not look for a home without being preapproved.
2. Do not suddenly pay off debts and collections or close accounts.
3. Do not apply for new credit cards.
4. Do not change jobs or change your pay structure at your current job.
5. Do not consolidate bills.
6. Do not make non-payroll related deposits into your bank account without keeping copies of checks.
7. Do not pack the documents needed during the loan process. These include W-2 forms, tax returns, bank statements, pay stubs, etc.
8. Do not choose a mortgage without researching all the different types.
9. Do not shop for, lease or purchase a car or other type of vehicle.
10.Do not incur more debt by making large purchases such as appliances.
By following the advice of your home loan professional, you will be on your way to obtaining the best terms and interest rates possible – as well as a smooth, on-time closing. If you must take one of these actions, it is wise to discuss this with your loan officer. We would love to assist you; please feel free to call us with any questions or to start the home-fi nancing process! Please call 952-808-2820 if you want to apply for a mortgage.
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