Do’s & Dont’s

Do’s & Dont’s

Make sure that you DO NOT

Do any of the things that may alter your credit and may risk you obtaining your loan.  Also, these things may put you in default of your Sales contract, may put your ESCROW deposit at risk, and may put you at risk of being sued.

  • Quit your job or change jobs.  If this is likely consult with your loan officer and tell us about it.
  • Allow anyone to make an inquiry on your credit report except your lender.
  • Apply for credit anywhere else except with your lender.  This causes more “hits” on your credit rating which can reduce your credit score.
  • Change back accounts or transfer money within your existing accounts.
  • Co-sign for anyone or attempt to purchase anything else on credit such as another car, truck, boat, furniture or other real estate.
  • Change any abnormal amounts to your current credit cards or credit lines.
  • Send in late payments, or incur late fees for anything.
  • Wait longer than the time frame given your contract to provide all necessary paperwork and information to your lender when requested.

Make sure that you DO

  • Keep all accounts current, including mortgages, car loans, credit cards, etc.
  • Contact both your lender and your sales associates anytime a question may arise.
  • Make all payments on or before due dates on all accounts, even if the account is being paid off with your new loan.
  • Return phone calls from your agent, loan officer, title company or anyone else involved in your transaction.