Top Ten Things Not To Do During Your Loan Process

Top ten things not to do during the loan process in order to avoid any delays with your loan approval:

1.Dont change or quit your job.

2.Dont switch banks or move money in your bank accounts.

3.Dont lease or buy a new car.

4.Dont close credit card accounts.

5.Dont apply for new credit cards

6.Dont co-sign on someone else’s loan.

7.Dont stop making regular monthly payments on your existing loans and credit cards.

8.Dont buy furniture for your new home on credit.

9.Dont ignore your loan officer.

10.Dont spend the money budgeted for down payment and closing cost.

Any major changes in your income, assets or your debt can change the terms of your mortgage, or crush your home ownership dreams altogether. If you’re not sure how a certain financial move can affect your loan application, ask your loan officer for advice.

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