How to Be A Good Borrower

Your Loan Is In Process… Now What? Your mortgage is in motion, and what you do next matters. Check out our Dos & Don'ts below to avoid any “wait, what just happened?” moments.

Dos

Send requested documents as promptly as you can
Disclose the income you want considered for qualifying
Disclose your debt (i.e. side business, alimony, child support, additional real estate owned etc.)
Be honest about your credit (good or bad)
Pay your bills on time (mortgage, rent, car payments, credit cards, etc.)
Use your credit card normally
Make sure your spouse is available for the closing (if purchasing a primary residence)
Communicate with your loan originator and loan partner

Don'ts

Change or quit your job
Pay off debts, collections, or charge-offs (unless your loan officer recommends it)
Move out of your current home
Make major changes to your asset structure
Co-sign or co-borrow on anything
Make large cash deposits into your bank accounts

You're well on your way to homeownership, and staying informed is key to a smooth process. Following these Dos and Don'ts can help avoid delays, surprises, or last-minute stress. When in doubt, your loan team is here to guide you every step of the way. Keep things steady, stay in touch, and you'll be at the closing table before you know it.

How Can We help?

By voluntarily using and submitting forms on our website, you are agreeing to receive email messages from The Mortgage Firm during the processing and post the closing of your mortgage loan request. You may receive 5 or more emails per day. These emails are informational in nature regarding the mortgage industry including status updates on any loans you may have with us, information on the market, and marketing emails of potential opportunities for you. You can discontinue receipt of emails any time by unsubscribing or by contacting your loan originator. Click here to read our Privacy Policy.

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