The DO's and DON'ts When Applying for a Mortgage

DO’s

• Do keep paying your bills on time
• Do let your Loan Officer know of any significant changes (job, new expenses)
• Do get your Loan Officer all documentation requested on a timely manner
• Do tell your Loan Officer of large new deposits to bank accounts
• Do keep a paper trail of any new deposits or transfers into bank accounts that are not payroll related
• Do use funds for closing from only the asset accounts your lender has verified

DON’Ts

• Refrain from changing jobs becoming self-employed or quitting your job
• Refrain from buying a new vehicle or other large purchases (furniture, appliances) on credit
• Refrain from using credit cards excessively and increasing credit card balances
• Refrain from making large deposits without first checking with your loan officer