• 9 Ways to become UN-APPROVED

  • The mortgage process is a lot more rigorous today than it was in the past. There are numerous checks you have to get through on your way to closing. Once you become approved, it is not guaranteed you stay that way.

    Changes you make to your financial profile can quickly get your home loan un-approved.  These suggestions may seem obvious to most consumers but our real world experiences dictate otherwise.

    1. Don’t buy a new car or trade-up to a bigger lease
    2. Don’t quit your job to change industries or start a new company
    3. Don’t switch from a salaried job to a heavily-commissioned job
    4. Don’t transfer large sums of money between bank accounts
    5. Don’t forget to pay your bills — even the ones in dispute
    6. Don’t open new credit cards — even if you’re getting 20% off
    7. Don’t accept a cash gift without filing the proper “gift” paperwork
    8. Don’t make random, undocumented deposits into your bank account
    9. Don’t count on using your income to qualify if you’re on maternity leave

    Before you make any changes to your financial profile, ask us how it will affect your application!

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