Mortgage Loan
Process Mistakes

A mortgage is the biggest debt most of us will ever carry

“Avoiding these mortgage mistakes will be a big step toward making home ownership a joy”

What NOT TO DO While in the Loan Process

Deposit Cash into any account – All money deposited must be documented! Cannot have any unidentifiable funds. NO CASH!

Finance any items such as furniture, paint, jewelry

Open new credit, charge up existing credit cards

Buy a new car or any other large ticket item

Quit your job or take a leave of absence

Not pay your bills on time. Pay all bills on time!!

Divorce Decree (if divorced)

Be late on any bills, continue to pay bills on time!! (redundant but necessary)

Co-sign for anybody. You are still liable! Refrain from opening any new account or helping out during your mortgage transaction.

Withdrawal cash and re-deposit into account. Your bank account is going to be reviewed. Anything that seems questionable probably is. Talk to your loan officer if something comes up with a deposit that is not associated with your paycheck!

Hacer un préstamo o cargar una tarjeta de crédito para el pago inicial o los costos de cierre!

Spend your money! Keep saving! Banks like to see that you are responsible! One you have your keys, feel free to do as you like, but during your loan process, don’t spend a dime!!