Home Loan Do's & Dont's | Preferred Rate in Brentwood, CA

Tips for a Smooth Loan Approval

DO's

Immediately inform your Loan Officer if there are any changes in your employment, income, or assets.
Continue living in your current residence.
Continue making all mortgage or rent payments.
Continue to make payments and stay current on all existing credit accounts.
Be prepared with an explanation for any credit "blemishes" and recent credit inquiries.
Research and select a preferred homeowners insurance provider.

DONT's

Make any major purchases or home improvements.
(ie. auto, boat, appliances, furniture, pool)
Apply for new credit or loans.
Pay off any charge-off accounts, collections, loans, credit cards, or consolidate debt.
Close any credit card accounts, max-out, or over-charge credit accounts.
Change bank accounts of transfer balances from one account to another.
Change the source of your "closing funds."
Deposit large amounts of cash into your own bank account without proper documentation.

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