Tips

• Do not attempt to consolidate bills before speaking with your lender.
• Do not buy new furniture or major appliances. If the new purchase increases your debt load, it can disqualify you from the loan or deplete your funds to close.
• Do not buy or lease an auto. This will increase your debt-to-income ratio, and a large payment such as a car lease or purchase can greatly impact those ratios and prevent the buyer from qualifying.
• Do not change jobs. A new job may involve a probation period which must be satisfied before the income from that job can be considered for qualifying purposes.
• Do not let other companies run credit reports on you. This could possibly bring down your credit score.
• Do not move assets from one bank to another. These show up as new accounts and complicate the application process.
• Make sure that you have all information that may be needed for the loan application (ex. W-2s, Tax Returns, Divorce Decrees).