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Things to Remember When Applying for a Home Loan
The following are some helpful hints to remember when applying for a home loan. Any one of these items can greatly impact your ability to qualify for a home loan, so it is critical to keep the following things in mind until closing your loan.

Keep Copies of Everything
You will be required to submit many important documents with your loan application. Please keep a copy of all documents submitted with the loan application for your records, and remember to include your return address on all mail correspondence.

Save All Bank Statements
Keep copies of all bank statements received from the time your loan application is submitted until your loan closes. Make sure you have the copies in your immediate possession as these statements may be needed throughout the loan process.

Hold It Right There! Keep Your Money Where It Is
It is best to leave your money right where it is until your loan is closed. Moving your money to a new bank or even a new account can impact the loan verification process.

Timely Payments Are A Good Habit To Have
It is important to make all payments on time. Your Loan Specialist will advise you if it is necessary to pay off any bills to help you qualify for your loan. If paying off your bills is necessary, contact your Loan Specialist for the best way to handle your payment.

It’ll Be There Tomorrow! Avoid Making Large Purchases!
Many borrowers make the mistake of buying a new car, furniture, or other major purchases without realizing the impact it can have on their loan approval. A large monthly payment can affect the loan amount for which you qualify and, during the loan process, can make affect your existing loan approval.

Avoid Changing Jobs
Changing jobs before or during the loan process can create a real problem in qualifying you for a loan, particularly if that job is a different line of work or at a lower salary. During the loan process, it can also create time delays as the new job will need to be verified. Contact your Loan Specialist to discuss options prior to making any changes to your employment.

Please contact your Loan Specialist if you have any questions about the above items. Your Loan Specialist can help you prequalify for a loan and advise you of your financing options. By keeping the above items in mind, you can look forward to a successful loan closing.