Loan Process Do's and Dont's
DO
- Continue making mortgage or rent payments
- Stay current on all existing accounts
- Continue working at current employer
- Keep the same insurance company
- Continue living at current residence
- Continue to use credit as normal
- Call your loan officer if you have any questions
DON'T
- Make a major purchase such as a car, boat, furniture, appliances or jewelry
- Apply for new credit (even if it says pre-approved), or finance anything
- Change jobs or retire without first discussing with your loan officer
- Open a new credit card, or close any credit accounts
- Transfer any balances from one account to another
- Change bank accounts
- Deposit large amounts of money
- Max out or over charge on credit cards accounts
- Consolidate your debt
- Pay off any loans or credit cards without discussing it with your loan officer