-Have available copies of recent pay stubs, bank statements and other important financial documentation.
-Provide all documentation for the sale of your current home (sales contract, closing statement).
-Notify your Loan Officer if you have an employment change (changes may include but are not limited to: change of employer, recent raise, or change of pay status from salary to commission).
-Change jobs without inquiring about the impact this change would make on the approval of your loan.
-Make major purchases during or prior to closing (new credit cards, store cards, new car, furniture, appliances, electronics – even if there is no payment or interest due until next year). This will impact your debt to income ratios.
-Obtain and/or deposit sums of money that are not payroll related without informing your Loan Officer. Depending on the amount you may be required to provide documentation on the source of funds.
-Open, close or transfer any asset accounts without proper documentation required for your loan file.
-Open new accounts (including credit cards, signature loans, this will also include retail cards from department stores and other retailers). Again, this will impact your debt to income ratios.