Signing papers

Whether you`re a homeowner who wants to take advantage of the historically low interest rates, or thinking about refinancing, or want to remodel, or a first time buyer.....there are certain Do`s & Don`ts during the loan process which may seem small & incidental, but if not followed may delay or even prevent you from getting a loan.





• Although it seems inconsequential, do not make cash deposits at your bank

Do not be tempted to call & inquire into your credit score. Believe it or not, too many inquiries into your credit score will cause your score to go down.

Even though remodeling or buying a home is exciting, refrain from purchasing furniture, appliances, TV`s or other large items until after the loan has been processed.

Do not make large deposits into your accounts without first checking with your loan officer

Do not open new credit card accounts

Do not change bank accounts or banks

Do not change jobs, become self-employed or quit your job

Do not charge your cards to the max or let your accounts fall behind

Do not spend money you have set aside for closing costs

Do not co-sign for a loan for anyone

Do not buy or lease a car, truck, or van, during the loan process

Do not request a student loan deferment

Do not use business funds for closing funds without first checking with your loan officer

Do not stop making your mortgage payments while waiting for your refinance to go through.



Do ensure the loan application is completed fully, accurately & honestly.

Do make sure you discuss with your loan officer where the funds to close are coming from and which account you are using to wire the deposit and any other funds to be used.