Welcome back to Part 2 of our series exploring the best ways to help ensure a smooth mortgage loan process when purchasing a home and applying for a mortgage. Below please find our Don’t list, for your review…

DON’T Close or open any asset accounts or transfer funds between accounts without first talking to your loan officer or loan coordinator about the proper documentation required for your loan. For example, before transferring funds from your savings to your checking, it is important to discuss the ramifications with your loan officer or loan coordinator.

DON’T Deposit any monies outside of your automated payroll deposits, particularly cash or sale of personal property, without notifying your loan officer or loan coordinator. Many guidelines require substantial documentation as to the source of these deposits.

DON’T Change jobs/employer without inquiring about the impact this change might have on your loan.

DON’T Make major purchases prior to or during your contract, such as a new car, furniture, appliances, etc., as this may impact your loan qualification.

DON’T Open or increase any liabilities, including credit cards, student loans or other lines of credit during the loan process as it may impact your ability to qualify for your loan.

Watch for our next BLOG POST on April 7th as we conclude this series by detailing a comprehensive Document Checklist when applying for a home mortgage. While no single list can completely cover all types of loans, following our advice during your mortgage loan application process will help to close your loan faster, allow you to sleep better at night, and help your loan officer give you the best service possible.

We hope you found this post to be helpful, informative and interesting… To learn more about Tampa Bay area homes for sale in Spring Hill and Brooksville, located in Hernando County, Florida, visit us www.GailSellsFloridaHomes.com.

Be sure to check out our custom, state-of-the-art, MLS Map Search Feature, which you’ll find to be fully functional on any and all of your devices!