Do’s and Don’ts

Here are a couple of tips for when you are applying for a mortgage.

Do’s

  1. Do keep all existing credit card accounts open.
  2. Do maintain your employment at your current job.
  3. Do pay off collections, judgements, or tax liens reported within one year.
  4. Do stay current on your existing accounts.
  5. Do call us. We are here to help you through this process.
  6. Do CONTINUE TO USE YOUR CREDIT AS YOU NORMALLY WOULD

Don’ts

  1. Don’t apply for new credit of any kind.
  2. Don’t MAX OUT or overcharge existing credit cards.
  3. Don’t consolidate debt to one or two cards.
  4. Don’t make any large purchases.
  5. Don’t make any large deposits into any of your accounts.
  6. DON’T RAISE RED FLAGS TO THE UNDERWRITER – Don’t co-sign on another person’s loan, or change your name and address. The less activity that occurs while your loan is in process, the better it is for you.