What NOT to do

Don’t get un- approved, here are 8 things you should absolutely not do between your date of application and your date of closing. Doing even ONE of these could jeopardize your ability to obtain a mortgage loan!

1. Don’t buy a new car or trade-up to a bigger lease

2. Don’t quit your job to change industries or start a new company

3. Don’t switch from a salaried job to a heavily-commissioned or bonus structured job

4. Don’t transfer large sums of money between bank accounts or withdraw any either

5. Don’t forget to pay your bills ON TIME– don’t place any disputes on your debts

6. Don’t open new credit cards — even if you’re getting 20% off “just to open a card”

7. Don’t accept a cash gift without filing the proper “gift” paperwork from your mortgage specialist

8. Don’t make random, undocumented deposits into your bank account, almost every deposit (other than payroll) has to be paper trailed

Don’t get your mortgage get un-approved. Take steps to protect your approval. Avoid the bad behaviors which can cost you time and money and that great, low rate.

These are just 8 of the behaviors which could sabotage your loan. There are more, of course, and we will help you identify them. ALWAYS check with your mortgage specialist before doing anything.