Home Loan Do’s & Don’ts

Key Steps to Keep Your Loan on Track

Home Loan Do's

Stay Current on Existing Accounts

Like your mortgage and car payments, one 30-day late notice will cost you.
Keep All Documents

Keep all documentation on any deposits made into your account. Keep copies of earnest money deposits.
Keep Using Credit as Usual

Keep credit balances between 10%-30% of your limit and don't dispute accounts during the loan process.
Keep Your Originals

Please send us updated pay stubs and bank statements if our current copies are over 30 days old prior to closing.
Provide Documentation for Your Home Sale

We need your sales contract, closing statement (HUD-1/Closing Disclosure), and proof of proceeds.
Contact Us if Your Employment or Marital Status Changes

If you change employment, get a raise, or have a leave of absence, we need to know. If you get married, notify us.

Don't Apply for New Credit

If you apply for new credit, it can lower your score. Avoid new credit lines for furniture, appliances, or other purchases.
Don't Pay Off Collections or Charge Offs

Unless required for your loan, paying old collections can lower your credit score.
Don't Close Credit Card Accounts

Closing accounts affects your debt-to-credit ratio, impacting your score.
Don't Change or Move Assets

Don't change investments, close accounts, open new accounts, or substantially change your asset picture without contacting us first.
Don't Make Large Unverified Deposits

Any non-payroll deposits will need to be explained and documented for underwriting. Cash deposits cannot be used.
Don't Make Changes to Your Employment

Employment stability is a big factor in the underwriting process. Quitting or changing jobs can endanger your loan approval.