There are some major red flags that can be raised when leading up to a closing.
- Do not change jobs, become self-employed or quit your job.
- Do not apply for any new credit.
- Do not buy a vehicle, furniture, appliances or other large purchase.
- Do not overcharge, take out cash advances or close any existing credit cards.
- Do not co-sign a loan for anyone else.
- Do not make any large non-payroll deposit to your bank accounts.
- Do not switch banks or move money around.
Be Aware of Delays:
Keep in Mind:
- Your prompt response to our requests for documents throughout the loan process will be helpful in making a timely decision on your loan.
- Please respond within 2 business days of each request to avoid delays in approval decision, receipt of required Closing Disclosure and closing scheduling.
Keep It Steady:
- Stay Current: Make timely payments on all existing debt, including any mortgages
- Stay Consistent: Continue to use credit/debit cards as normal
- Stay Informed: Join a credit watch program
- Stay Connected: Talk with your loan officer if you have any questions
