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Do’s and Don’ts in the Loan Process

The following are some very important reminders of “Do’s and Don’ts” while you are in the process of procuring a mortgage.


  • Remember that we must run your credit at loan closing to show no new debts have been incurred
  • Keep a paper trail of any large deposits to your bank accounts
  • Maintain your current employment and number of hours worked- what we have used to qualify you for your new loan
  • Remember that your employment will be checked on the day of loan closing and any change could result in your loan being delayed or denied
  • Know that we want to work with you and make your mortgage happen as smoothly and painlessly as possible


  • Open ANY new credit, for yourself or as a co-signer
  • Close ANY open lines of credit (this could affect your credit score)
  • Make any new major purchases (you could deplete your cash assets)
  • Pay off all debt (every move you make with your money may have an impact on your loan qualification)
  • Increase your existing loan balances
  • Spend ANY of the funds you have said you will retain for down payment and reserves
  • Allow your credit to be checked by any other creditor
  • Make ANY large deposits to your asset accounts that cannot be traced
  • Change jobs
  • Ignore your lender requests
Written by Central Coast Lending - Go to Central Coast Lending's Website/Profile