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Do's & Dont's
To help avoid delays with your loan approval, below is a list of tips that will help you avoid the more common pitfalls during the loan process.
Reach out to your lender with questions about the home buying and financing process to align with your financial goals.
Maintain your current job to facilitate verification of your employment status.
Stay current on all payments, including mortgage, credit cards, and other debts.
Organize key documents such as pay stubs, tax returns, and bank statements.
Document any gifted funds for your down payment with guidance from your Loan Officer.
Make large unexplained deposits, withdrawals, or purchases.
Allow your bank accounts to go negative, even with overdraft protection.
Apply for new credit or share personal information that may impact your credit score.
Close credit card accounts after paying them off, as it can affect your credit score.
Keep cash in a safe or overseas account for the down payment.
Inquire about the best time to transfer funds to your U.S. bank account.