First-Time Homebuyer? Check out our Mortgage Do’s and Don’t

What to DO:

DO Provide all requested financial documentation within 24 hours

DO Disclose all of your income that you would like considered for qualifying purposes

DO Disclose all of your debts (i.e. side business, alimony, child support, additional real estate owned etc.)

DO Be upfront about your credit (good, bad or otherwise)

DO Pay all of your bills on time (mortgage, rent, car payments, credit cards, etc.)

DO Continue to use your credit card as you normally would, but not excessively

DO Make your spouse available to sign at closing if purchasing a primary residence

DO Keep in communication with your Loan Originator or Loan Partner

Without talking to your Loan Originator first…

What NOT to DO:

DON’T Change or quit your job

DON’T Apply for New Credit or Loans of any kind

DON’T Pay off debts, collections or charge-offs (unless advised to do so by your Loan Originator)

DON’T Move

DON’T Co-sign or become a co- borrower on any other loan

DON’T Make major changes to your asset structure

DON’T Make any cash deposits into your bank accounts