DO

• Do stay current on existing accounts-One 30 day late notice can compromiseyour ability to be approved.
• Do call your mortgage loan professional if you have questions or concerns

DON’T

• Don’t apply for new credit-Every time you have your credit pulled you could lose points from your credit score. This includes co-signing.
• Don’t max out your credit cards-Do not use more than 30% of your available credit.
• Don’t consolidate your debt-It will appear you are “maxed out” on that card and your credit score will suffer.
• Don’t close credit card accounts-This negatively impacts your credit history.
• Don’t payoff collections or “charge offs”-If you want to pay them off, do it through escrow at closing.
• Don’t transfer money between accounts-Unless receiving complete documentation from your bank itemizing all transfers.
• Don’t withdraw or deposit large sums of money-Unless absolutely necessary.
• Don’t have a friend or relative pay for anything related to the purchase of the home-Gifts are allowed under specific lending guidelines and must be documented.
• Don’t keep cash in a safe or overseas account-If you plan to use funds as a down payment, inquire about how and when the best time would be to put funds in your bank account if needed.
• Don’t make career moves-Should an opportunity arise, discuss with your mortgage professional.
• Don’t let bank accounts go in the red-Any accounts with insufficient funds cannot be used. Keep all accounts in good standing.
• Don’t give your personal information to anyone who might run your credit report – Be protective of your credit while purchasing or refinancing your home. Additional inquiries can hurt your credit scores.