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Avoid Problems During Loan
Processing |
Ten things you should do:
- Trust your professional loan officer and loan processor. We want your
loan to close on time!
- Be organized and prepared for your loan application
- Get all information requested to us as soon as possible
- Send us copies of any changes or addendums to your Earnest Money Agreement
immediately
- Start your loan at the highest amount you may want
- Keep photocopies of gift checks and deposit slips; keep pay stubs and bank
statements
- Save Money - don't pay off debts unless your loan officer advises you to do
so
- Getting
divorced? Get it finalized, and don't initiate and/or become the
target of any other legal action
- Keep
your credit accounts current
- Let
us know if you are leaving town for any length of time before closing
Ten things you should NOT do:
- Do not be surprised if additional information is needed; sometimes the verifications we receive back raise new questions
- Do not add any new debts or charges to current accounts
- Do not spend your cash on anything but your new home purchase
- Do not change jobs or quit your job, and don't start a new business
- Do not co-sign on another person's loan
- Do not trust rate quotes from the last person to buy a house at your workplace - call your Don Chase Mortgage's loan officer to get the best rate for your specific profile
- Do not make any changes in your financial situation without first checking with your loan officer
- Do not lock in your rate/fee until you are certain your loan will close on time
- Do not buy your new furniture and appliances until after closing
- Do not forget to factor in time to move, with the possession date
from your Purchase and Sales Agreement as your target move-in date.
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