So you've been pre-approved for a mortgage

Congratulations! You've been pre-approved for a mortgage!! Now what? Pre Approval 8th and Home

  • Keep the process moving by responding to your loan officers’ requests for documents ASAP!
  • Make decisions as soon as possible.
  • Keep your Realtor informed during the process (!!!)
  • Relay questions or concerns AS they develop.
  • Continue to make all of your rent or mortgage payments on time.
  • Stay current on all other accounts, including utilities, credit cards, etc.
  • Continue to work your normal work schedule with no unplanned time off. If you have planned vacation time, be sure to notify your lending / Realtor team.
  • Do not open any new accounts or charge large amounts.
  • Be prepared to explain any large deposits in your bank accounts.

preapproval 8th and home

After you have been pre-approved for your mortgage:

  1. DO NOT make any major purchases (car, boat, jewelry, furniture, appliances, etc.).
  2. DO NOT apply for any new credit (even if it says you are preapproved or “xxx days same as cash”).
  3. DO NOT pay off charges or collections (unless directed by your loan officer to do so).
  4. DO NOT make any changes to your credit profile.
  5. DO NOT change bank accounts.
  6. DO NOT make unusual deposits into your bank accounts or move money around from one account to another.

pre-approval 8th and home

 

Are you in the market for a new home? Do you need to speak with a trusted loan officer? Check out our trusted loan officers here: 8th & Home Lenders