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  • Do not change employment.
  • Do not max out your credit cards.
  • Do not take on any new debt.
  • Don’t apply for any cards for furniture, et cetera, during the loan process. Make sure you don’t buy a new car. Don’t buy a new boat. Don’t acquire a new credit card that didn’t show up on your loan application. All of these things could affect your loan approval so make sure you do not do that.
  • Do not make any large deposits into your bank account that aren’t payroll related. Anything greater than 50% of what your normal payroll deposit is, underwriter is going to ask where that came from. You’re going to have to document it and paper trail it back to where it came from.
  • Don’t spend any money that you set aside for closing. That’s pretty much common sense.
  • Don’t delay in providing any paperwork that’s requested from you during the loan process because that could delay your closing date.
  • Make sure that you make all of your current payments on time on all the accounts that you have that are listed on your credit report.

Those are just some of the common dos and don’ts during the loan process.

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