utm_source=website&utm_medium=direct&utm_campaign=sitefinity

Dos and Don’ts for an Efficient Loan Process

Help make sure your loan closes smoothly by following these tips.

 

Do

  • Do get prequalified before you start shopping so you know how much you can afford.
  • Do make all payments on time on all your current accounts.
  • Do tell your Loan Originator about your long-term financial goals
  • Do ask about the different loan products available so you know your options.
  • Do use your credit cards as normal.
  • Do tell your Loan Originator immediately if you get a notification from a creditor.
  • Do contact your Loan Originator if you’re wondering whether or not something could affect your loan.

 

Don't

  • Don’t apply for any new credit or loans.
  • Don’t consolidate debt or close credit accounts
  • Don’t quit your job or change jobs, if possible.
  • Don’t change your name or address.
  • Don’t spend more than usual on your credit cards.
  • Don’t pay off collections without talking to your loan officer.
  • Don’t co-sign on another person’s loan.
  • Don’t accept gift money without consulting your loan officer.
  • Don’t deposit large sums of cash into your accounts without talking to your loan officer.