Buyer Tips

                                                                                                            Do's & Don'ts When Purchasing a Home

There are actions that could negatively affect your mortgage transaction. By following these important guidelines you can help make your home financing transaction as smooth and seamless as possible.

The Don'ts

• Don't change jobs, quit your job or become self-employed
• Don't buy or trade in a vehicle
• Don't increase debt balances or let current accounts fall behind
• Don't spend money you have set aside for closing
• Don't omit debts or liabilities from your loan application
• Don't buy furniture or appliances or make a new credit application
• Don't originate credit inquiries (e.g. no new loans, credit cards or lines of credit)
• Don't make large deposits or transfer funds
• Don't co-sign any loan

 The Do's

• If one or more of the above actions is unavoidable, do contact your lender so he/she can help you determine the best course of action that will have the least negative impact on your transaction
• Do provide your lender with any documention he/she requests in a timely manner
• Do call your lender or your realtor if you any questions or concerns during the loan process