Do's and Dont's While Your Loan Is In Progress

Do's and Dont's While Your Loan is in Progress

Do's

DO keep originals of all paystubs, bank statements, and other important financial documentation. It may be required to update any documents that are over 30 days old prior to the closing of your mortgage loan.

DO provide all documentation for the sale of your current home (i.e., sales contract, closing statement, employee relocation/buyout program).

DO notify your loan officer if you plan to receive gift funds.

DO notify your loan officer of any employment changes (i.e., change of employer; recent raise/promotion; change of pay status, such as salary to commission, etc.).

Dont's

DON'T change jobs/employer without inquiring about the impact this change would have on the approval/approvability of your mortgage loan.

DON'T make major purchases during or prior to closing (i.e., new car, furniture, appliances, electronics) because this might impact your qualification ratios. Please confer with your loan officer to have him/her calculate what your ratios would be with any additional debts.

DON'T obtain and/or deposit sums of money over $500 without notifying your loan officer. FNMA/HUD guidelines require documentation as to the source of these funds (i.e., copy of bonus check, copy of tax refund, copy of insurance settlement, gift letter with copy of check and deposit slips, etc.)

DON'T close/open or transfer any asset accounts without inquiring about the proper documentation required for our loan file (i.e., if you transfer all the funds in your stock account to your savings account, documentation is required).

DON'T open or increase any liabilities, including credit cards, signature loans, etc., during the loan process. Please check with you loan officer for any documentation that will be required and what impact this would have on your qualification ratios.

Why do we offer this report free of charge?

The ideas contained in this report took us years to learn and formulate. We are offering this free of charge because we want to be your mortgage advisor. We offer more than simply a loan, we'll personally advise you on how to use and apply the principles contained in this report. Worried that you can't remember all of what is contained here or do you have more questions? Call us and we'll provide you with the highest level of service. We want to earn your business.

Premier Lending Group L.L.C.
approved@premierlend.net
1.866.501.LEND (5363)