If you are buying a home, most likely you will be applying for a mortgage. The process of getting approved for a mortgage is a delicate and very careful thing and home buyers need to be aware of the Do’s and Dont’s.
Russ Poe, mortgage officer for Top Flite Financial 413-241-6940 shared this helpful list. There are several things that he stresses importance upon so that the mortgage process can go as smoothly as possible.
DO’S AND DON’TS
DO
- Continue to make all loan/credit card payments on time
- Continue to make rent/mortgage payments on time
- Continue to maintain good employment history
- Continue to work at least your normal work hours
DON’T
- Any gift cannot be in the form of cash
- Do not change jobs or leave your present employment
- Do not make any large deposits to your bank account that are not regular payroll deposits
- Do not open any new credit cards unless advised to do so by your mortgage officer
- Do not make any cash advances on your credit cards
- Do not charge any more on your credit cards than currently there
- Do not finance or lease a new car
- Do not overdraw your checking account or bounce checks
- Do not take out any loans of any kind
- Do not consign a loan for another person
