Financing Do’s & Don’ts

Following these guidelines during the mortgage process can help ensure a smooth approval and closing. Small financial changes can have a big impact on your loan qualification.

Do’s

• Promptly provide all requested documents to speed up approval and processing
• Ensure your employment, asset, and personal information is accurate on your application
• Contact your insurance agent early and inform them of your upcoming home purchase
• Be prepared to explain and document any non-payroll deposits in your accounts
• Respond quickly to any requests for additional information
• Continue making all payments on time

Don’ts

• Do not apply for new credit cards or loans
• Do not finance large purchases during the process
• Avoid making large deposits into your bank account unless they are properly documented and seasoned (typically in the account for at least 2 months)
• Do not allow unnecessary credit inquiries
• Avoid actions that may raise red flags, such as co-signing a loan, changing your name, or changing your address
• Do not change jobs or alter your income structure during the process
• Do not spend funds allocated for your down payment or closing costs

Staying financially consistent throughout the mortgage process is key to avoiding delays or issues with your loan approval.

Have questions about what’s allowed? Reach out to us anytime—we’re here to help you navigate the process with confidence.