Earlier this year I wrote a post about the do's and don'ts during the mortgage process. Little did I know that a mere 90 dayshome buyer tips later I would be talking about this again.   Keep in mind that while your application and documentation are being reviewed and any slight change can result in a denial. Before you do ANYTHING, discuss the potential impact with your loan professional.

 

 

 

I thought it would be worth stating again my list of do's and don'ts. Just for clarification, I have added a couple more.  Regardless of the financing program, here is my list of do’s and don’ts to help eliminate hurdles as you go through the process.

 

1. DO NOT apply for any new credit

 

2. DO NOT change jobs

 

3. DO NOT make cash deposits into your checking account

 

4. DO NOT transfer funds from one account to another

 

5. DO NOT make any large purchases, such as furniture or appliances

 

6. DO NOT significantly increase the balances on credit cards

 

7. DO NOT schedule movers until your file is CLEAR TO CLOSE.

 

8. DO NOT make travel arrangements until your file is CLEAR TO CLOSE

 

9. DO NOT reduce or raise any credit limits on credit cards.

 

Here is the list of do’s

 

1. Communicate an change of employment or income to your loan officer immediately

 

2. Communicate clearly any pertinent dates, such as move out from apartments, etc.

 

3. Respond quickly to any requests made during the process for clarification or additional documentation

 

If a situation comes up, it is best to discuss it with your licensed mortgage professional before you take action!

 

Buying a Georgia Home in 2012 - Let's Talk Assets

 

Buying a Georgia Home in 2012 - Let's Talk Rent

 

Buying a Georgia Home in 2012 - Step One - Where Are You Spending Your Money

 

Buying a Georgia Home in 2012?

 

 

If you found this blog valuable, please subscribe by clicking the button to the right.  If you are ready to talk about a mortgage, please click HERE to apply now.

 

Signature 

 

Kathleen Sheehan

Sr. Mortgage Consultant

NMLS #206275
Georgia Residential Mortgage Licensee #25839

600 Galleria Parkway

Suite 170

Atlanta, GA  30038

 

770.634.4021 cell

 


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Women's Council of Realtors Secretary







The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.

 

 
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53 Comments on Breeze Through the Mortgage Process By Following These Suggestions -

20 Most Recent Comments Displayed Show All

MAR
12
2012
426,822 Points 19 Featured Posts Outside Blog Called Shot Master

Evelyn, you are most welcome to do that!  I hope it helps!
9:33am • #34
107,890 Points 2 Featured Posts

Kathy, thank you for sharing this list of Dos ans Don'ts. I will keep it for referal & share it with my first-time home buyers!
10:08am • #35
426,822 Points 19 Featured Posts Outside Blog Called Shot Master

Monique, thanks! and share away!
10:32am • #36
118,117 Points Outside Blog Hit Router

Great list, should be the commandments of home buying! thank you.
11:14am • #37
253,470 Points 8 Featured Posts Outside Blog

Great list, Kathy! Very comprehensive, straight forward and easy to follow.

Congratulations on the well deserved feature post! Hope you have a wonderful week!!

Gina Lemos
11:45am • #38
Outside Blog
Kathy, I like to cover these same items with buyers, but sometimes they seem to forget them when buying their home. This deserves a "Re-Blog". I think I'll also print out and include in the buyer's presentation material.
11:57am • #39
Outside Blog
Kathy, I like to cover these same items with buyers, but sometimes they seem to forget them when buying their home. This deserves a "Re-Blog". I think I'll also print out and include in the buyer's presentation material.
11:57am • #40

Kathy, thanks for the great post. I think I'll print it out and give it to buyers when they sign an ofer.
12:27pm • #41
200,622 Points Outside Blog

Great tips for all buyers to follow. Thanks for sharing.
1:12pm • #42
Outside Blog

Excellent list - I  talk through those points with my buyers but am thinking I need something to give them in writing.  My son almost had problems with his loan when he deposited the couple thousand in cash he'd been saving in a coffee can - I'd been fussing at him for months to put it in the bank, well before he planned to buy a home.
3:34pm • #43
511,016 Points 13 Featured Posts Outside Blog Called Shot Master

Hi Kathy, Excellent list.  And even though I go through it, they still do it and you sweat every closing!
4:21pm • #44
426,822 Points 19 Featured Posts Outside Blog Called Shot Master

Liane, they are my commandments! 

Gina, thank you for your kind words.

Gary, thank you that is a wonderful compliment.

Wayne, share, share share!

Kimo, my pleasure!

Cathy, I actually send it out with all my loan packages.

Bob, you are so right!
5:11pm • #45
1 Featured Post Outside Blog

Always good to get these tips again...great to send out to buyers.  Thanks for summarizing!
6:08pm • #46
1 Featured Post Outside Blog Called Shot Master

Great post.  Never too many reminders on this subject.  People need to know don't do anything without checking first!
6:34pm • #47
MAR
13
2012
426,822 Points 19 Featured Posts Outside Blog Called Shot Master

Jayne, my pleasure!

Brenda & Ron, thank you!
6:08am • #48
296,246 Points 3 Featured Posts Outside Blog Attended Rain Camp

This is a very helpful list for consumers. We educate our clients on these as we have heard many stories of buyers not getting a home at the last minute because of a misunderstanding, or have to delay their search for the same reason. 
7:02am • #49
426,822 Points 19 Featured Posts Outside Blog Called Shot Master

Sylvie, you would be amazed at how many times, I am scrambling trying to prevent the deal from falling apart because of cash deposits, etc.
10:54am • #50
1,028,818 Points 16 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Good list.  Now if people would only follow it.  I remember the first post.  Thanks for putting it out again.
5:00pm • #51
MAR
20
2012
238,620 Points 5 Featured Posts Called Shot Master

This is a good list. I know of a couple that bought furniture for their new home before closing and ended up paying a higher interest rate on their loan.
12:23pm • #52
426,822 Points 19 Featured Posts Outside Blog Called Shot Master

Thanks Gene, I was inspired by one of my clients!

Tigard, they are lucky they were still able to close.  I had one that blew the whole deal.
4:54pm • #53

20 Most Recent Comments Displayed Show All


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