What not to do:
1: Don’t take on new credit
2: Don’t increase your debts
3: Do not ruin your credit
A pre-approval is based on your credit; income & assets at the time it's issued.
4: Don’t make large deposits
All assets have to be paper trailed, for this reason cash can’t be used to close. If you aren't able to paper trail the money then as far at the bank is concerned the money doesn't exist.
5: Do not Co-sign for loans
6: Do not Quit or Change jobs
Your job will be re-verified with your employer right before closing. Obviously if you're not working your income will be voided. If you’re starting a new job you will need paystubs to prove the income.
7: Ignoring lender requests
When your Loan Officer requests a document follow their directions. Provide all documents with all pages even if they're blank as soon as possible to avoid delays.
What to do:
Intellectual property of Mohamed T Gulamali