Here are some do's and don'ts for the mortgage process from our preferred lender, Tia Bennett. She's a trusted loan officer with over 15 years in the industry and our clients would tell you Tia and her whole team are deeply knowledgeable, communicative, and always efficient. Following these Do's and Don'ts will help make sure the financing portion of your home buying process is as streamlined as possible. If you have any specific questions after reading schedule a quick online consultation with Tia via this link!
Do:
1. Do check your credit score before applying for a mortgage, and take steps to improve it if necessary.
2. Do shop around for the best mortgage rates and terms.
3. Do get pre-approved for a mortgage before starting your home search, as it can help you determine your budget and make your offer more competitive.
4. Do provide all requested documentation to your lender in a timely manner.
5. Do stay current on your existing debts and avoid making large purchases or opening new credit accounts during the mortgage process.
6. Do review all loan documents carefully before signing and ask questions if you don't understand something.
7. Do inform your lender of any changes in your financial situation during the mortgage process.
Don'ts:
1. Don't make any major changes to your employment or income during the mortgage process, as it can affect your eligibility for a mortgage.
2. Don't apply for any new credit or loans during the mortgage process, as it can negatively impact your credit score.
3. Don't make any large deposits or withdrawals from your bank accounts without documenting the source of the funds.
4. Don't hide any debts or financial obligations from your lender, as it can lead to problems down the line.
5. Don't make any changes to the property you are buying without consulting your lender, as it can affect the value of the property and your loan terms.
6. Don't skip any payments or let your debts go into collections during the mortgage process, as it can hurt your credit score and affect your ability to get a loan.
7. Don't ignore any communication from your lender, and keep them informed of any changes or issues that arise during the mortgage process.
Overall, following these do's and don'ts can help ensure a smoother mortgage process and increase your chances of getting approved for a loan with favorable terms. Tia is here to answer questions along the way. Want to know how much you qualify for? Click this link to schedule a consultation!
留言