PLEASE NOTE: This is a very detailed process and you will need to provide information that you feel is unnecessary.  All items requested are mandatory requirements per the lender’s underwriting department, and/or the Federal Government.  We will do what we can to limit your exposure to requests which you may feel are silly and unwarranted.

IMPORTANT ALERT – A lot of things can happen during escrow that could change the underwriting disposition of your loan application. For example; a borrower could lose their job, get injured, or have a home damaged by weather, or some other unplanned event. The more time there is between application and closing, the more of a chance that one of these events could occur.  We understand that sometimes, bad things just happen. However, there are things that you can plan for; things within your control.

• Don’t buy a new car, trade-up to a bigger lease or co-sign for anyone else.  If you shop for a car DO NOT LET THE DEALER RUN YOUR CREDIT REPORT.

• Don’t quit/change your job to change industries or start a new company.

• Don’t switch from a salaried job to a job based on bonuses or commissions.

• Don’t transfer large sums of money between bank accounts without first discussing with your Loan Officer.

• Don’t forget to pay your bills — even the ones in dispute.

• Don’t open or apply for new credit cards or credit lines including department stores — even if you’re getting 25% off for a purchase.

• Don’t accept and deposit a cash gift without first discussing with your Loan Officer and filing the proper “gift” paperwork.

• Don’t make random, undocumented deposits into your bank account.

• Don’t make cash deposits of any kind into your bank accounts.

Don’t forget to continue making your mortgage payments on properties being refinanced.  If the expected close of escrow is close to the date your next payment is due, please contact your Loan Officer to discuss BEFORE making the payment.