Top 10 Don’ts During the Home Loan Process

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New American Funding - Top 10 Don'ts During the Home Loan Process

Make sure nothing gets in the way of achieving your home financing goals. Some DON’Ts may seem obvious, but others not so much. Check out this list to make sure you avoid the Top 10 DON’Ts during the process of buying or refinancing.
Co-sign on any debt with relatives or friends.
Transfer money between accounts, unless receiving complete documentation from your bank itemizing all transfers.
Withdrawal or deposit large sums into your checking or savings accounts unless absolutely necessary.
Make any career moves.
Allow your bank accounts to go in the negative, even if you have overdraft protection.
Apply for new credit in any form, or apply for credit to consolidate.
Have a friend or relative pay for anything related to the purchase of the home (appraisal, earnest money, down payment, etc), since gifts are only allowed under certain guidelines.
Keep cash in a safe or an overseas account if you plan to use these funds as a down payment. Inquire about how and when would be the best time to put funds into your U.S. bank account if needed.
Close credit card accounts; if you close a credit card account, it may appear that your debt ratio has gone up.
Give your personal information to anyone else who might run your credit report as credit inquiries may hurt your score.
Call us today for any of your home financing needs!
Kamie-Randall-New-American-Funding
Kamie Randall
Loan Consultant
NMLS# 501309 • LMB# 100044494
Cell: 303.483.3565
Direct: 303.351.0528
Email: Kamie.Randall@nafinc.com
www.newamericanagent.com/KamieRandall
Larry-Laverne-New-American-Funding
Larry LaVerne
Senior Loan Consultant
NMLS# 692833 • LMB# 100043289
Cell: 303.818.6198
Direct: 303.945.7263
Email: Larry.Laverne@nafinc.com
www.newamericanagent.com/LarryLaverne
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