Don't do the following while you are applying for a loan

Don't do the following while you are applying for a loan.  I was at a lender conference last week and they are now calling underwriting "super full documentation" loans.  With this in mind. Let's talk about what not to do when you are applying for a loan. 

DON'T QUIT YOUR JOB

DON'T CHANGE FROM SALARY TO COMMISSION

DON'T BUY A NEW CAR

DON'T MOVE MONEY BETWEEN BANK ACCOUNTS

DON'T OPEN NEW CREDIT CARDS

DON'T MAKE UNDOCUMENTED DEPOSITS INTO YOUR ACCOUNT

DO CALL AND ASK WHAT TO DO IF YOU DON'T KNOW

If one of you accounts is changing please advise your loan officer. For example; car lease expiring, loans that are payable, any changes into your account.

There are a million ways to create problems during the mortgage process.  Buyers are concerned about having the money to close and being able to make the payments. Lenders are concerned about making sure the loans are within regulations.