Tips for a Simple Loan Approval2017-11-28T00:27:12+00:00

Tips for a Simple Loan Approval

Here is a list of useful tips to facilitate an effortless loan process. These DO’s and DON’Ts will help you avoid any delays and costly challenges with your loan approval.

DO’s

  • DO call us if you have any questions.
  • DO provide requested documentation promptly and in its entirety.
  • DO continue living at your current residence.
  • DO continue making your mortgage or rent payments.
  • DO continue to use your credit as normal.
  • DO keep working at your current employer.
  • DO keep your same insurance company.
  • DO stay current on all existing accounts.
  • DO expect requests for additional documentation throughout the loan process.
  • DO let us know if you will be receiving gift money before it is deposited into your account.

DON’Ts

  • DON’T change your employment status.
  • DON’T make any major purchases (car, furniture, jewelry, etc.).
  • DON’T change bank accounts.
  • DON’T make any large cash deposits into your bank accounts.
  • DON’T transfer any balances from one account to another.
  • DON’T close any credit card accounts.
  • DON’T consolidate your debt onto one or two credit cards.
  • DON’T apply for new credit or open a new credit card.
  • DON’T max out or overcharge on your credit card accounts.
  • DON’T take out a new loan or co-sign on a loan.
  • DON’T pay off any loans or credit cards, charge offs, or collections without discussing it with us first.
  • DON’T finance any elective medical procedure.
  • DON’T join a new fitness club.
  • DON’T open a new cellular phone account.
  • DON’T have your credit pulled or dispute any information on your credit report.
  • DON’T pack away or store any important documents, even if they aren’t initially requested.

If you encounter a special situation, it is best to mention it to us right away so we can help you determine the best way to achieve your goals.

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