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

"what, what just happened?" moments.

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Do’s Image

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 Image

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
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