Home Loan Do’s & Don’ts

What to avoid and what to do during the mortgage and home buying process.

Small financial changes during the home loan process can impact your approval, interest rate, or closing timeline. These mortgage do’s and don’ts help Tucson and Arizona homebuyers avoid common mistakes before closing.

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Mortgage Do’s & Don’ts Before Closing

The mortgage process is more sensitive than most buyers realize. Small financial decisions can impact your approval, interest rate, or closing timeline. These do’s and don’ts help Arizona homebuyers avoid common mistakes before closing.

Do's

Immediately inform us of any change in your employment, income and asset status.
Continue living at your current residence.
Continue making your mortgage or rent payments.
Keep working at your current employer.
Stay current on all existing accounts.
Explain any credit blemishes and credit inquiries.
Research and choose a homeowners insurance company and program.

Don'ts

Make any major purchases.
Apply for new credit or loans.
Change bank accounts or transfer balances from one account to another.
Pay of any charge off accounts, collections, loans, credit cards or consolidate your debt.
Close any credit card accounts, max out or over charge on your credit accounts.
Change your sources of closing funds.
Deposit large amounts of cash into your bank account without proper documentation.