Do’s and Don’ts

DON’T Get attached to the first house you see. It’s easy to do. You fall in love with the first house you place an offer on, and then are heartbroken when someone else gets it. Talk to your agent about your local market so you have realistic expectations from the get-go.

DON’T go house shopping without knowing what you can afford. When you get preapproved for a home loan, you can find out exactly how much house you can afford. This means hopefully you’ll avoid falling in love with a home outside of your price range when you start looking.

DON’T compare your mortgage transaction with a co-workers, relatives, or friends’ mortgage process. Each person’s process is unique in its own way and all will vary from one another.

DON’T change bank accounts. This will only complicate and delay the home buying process.

DON’T call your mortgage agent every day. Chances are your agent is working on numerous transactions. The more time he or she spends on the phone with you and other clients the less time they have to review, file and push paperwork through to the bank.

DON’T check your credit report after being approved. This will lower your credit score and affect your current mortgage application.

DON’T change jobs. Changing jobs without consulting your mortgage agent can affect your qualification for your new home.

DON’T make major new purchases on credit. That means no new credit cards, furniture, cars, appliances, etc.

DON’T make any large deposits or withdrawals from your Bank accounts prior to consulting your Mortgage agent.

DON’T give a 30-day notice to your landlord or property management company until you have been notified by your mortgage agent that your loan documents are in title.