Do not get behind on payments with any creditors. This will lower your credit score and may cause your loan to be denied.
Do not take on new debt and Do not Co-Sign. This will change your debt to income ratios and may cause your loan to be denied.
Do not make changes in employment. If changes in employment are necessary, consult with your loan officer in order to properly document the change. Do not quit your job, retire, change your position, change your employer, or change your department or employment location without informing your loan officer. A verification of employment is necessary prior to closing your loan and any changes in your employment may result in loan denial. Necessary retirement or changes in employment should be delayed until after closing your loan in most cases.
Do not pay off any collections or judgements. Doing so can negatively impact your credit score.
Do not try to “Fix” or “Repair” your Credit scores on your own. The algorithms the credit repositories use are complicated and often change. Please seek the advice of a knowledgeable credit specialist or loan officer.
Do not close existing credit accounts.
Closing credit accounts may shorten your credit history and negatively impact your credit score.
Do not file for bankruptcy. Doing so will result in a loan denial.
Do not misplace important income documents. Keep and maintain all tax documents and income documents close at hand and readily accessible until your closing.
Do not delay providing documents. Do not delay providing documents to your loan officer. Submit requested documents immediately when requested. This will help to ensure that your loan closes on time.
Do not transfer large sums of money. All money transfers must be documented by your loan officer, and also the money trail must be evident. If large sums of money transfers are necessary, discuss them with your loan officer to ensure the proper documentation.
Do not transfer gift funds without proper documentation. Gift funds are permissible for down payments and closing costs for most loan programs, however necessary documentation and procedures must be followed.