10 Do's and Dont's When Getting a Mortgage

• Do keep all existing credit card accounts open.
• Do maintain your employment at your current job.
• Do notify your Loan Officer of any employment changes such as recent raise, promotion, transfer, change of pay status, for example, salary to commission.
• Do pay off collections, judgements, or tax liens reported within one year.
• Do stay current on your existing accounts.
• Do be aware that a new credit report could be pulled just prior to closing.
• Do notify your Loan Officer if you plan to receive gift funds for closing.  Gift funds are acceptable only if certain criteria are met.
• Do organize your financial documents.
• Do shop for your homeowner’s insurance (we have a great insurance broker we can refer you to)
• Do call us. We are here to help you through this process.

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• Don’t quit or change jobs
• Don’t max out or overcharge existing credit cards.
• Don’t apply for new credit OR credit cards of any kind.
• Don’t consolidate debt to one or two cards– even if they have a $0 balance.  
• Don’t make any large purchases (buy OR lease a car, boat, jewelry, furniture, appliances, etc).
• Don’t enter any deferred payment plan of any kind.
• Don’t make any large deposits into any of your accounts outside of your automated payroll deposits, particularly cash or sale of personal property.
• Don’t start any home improvement projects.
• Don’t accept a cash "gift" for down payment without talking to Derek first.  There is a certain way this has to be done.
• Don’t switch banks or move assets (transfer) from one bank to another. Talk to Derek before you do this.
• Don't pack or ship information needed for your loan application and loan approval.