Obtaining a mortgage can sometimes be a long and complicated financial process. Here are some pointers of do’s and don’ts to make obtaining financing as smooth as possible.
- Provide all documentation requested.
- Have originals and access to pay-stubs and bank statements.
- Notify the loan originator if you plan to receive gift funds before closing.
- Stay employed.
- Make timely payments on all debts.
- Continue using your same insurance companies.
- Keep credit card balances below 40% of the credit limit.
- Alter any documentation.
- Lie or leave anything out on your loan application.
- Change jobs or employers.
- Open new credit cards.
- Increase debt with large purchases such as cars, furniture or trips.
- Take on more student loans.
- Get a cash advance from credit cards.
- Change your legal name.
- Deposit cash or non-traceable funds.
- Close credit card accounts.