For first-time homebuyers, this process can be a lot to handle at once. Our team of mortgage experts work to make sure getting your dream home can be easier.
There are a few things that you can do to make the entire process a little more streamlined. Here are some mortgage do’s and don’ts:
- Make sure all your financial documents are in order and readily available when you need them. These can include pay stubs, tax returns, bank statements and more.
- If you’re renting a place, continue to pay rent on time and save the receipts.
- Make all your bill payments on time. Your credit report could be pulled multiple times throughout the mortgage process
- Apply for a new credit card. Sudden credit changes can cause delays, change your financing terms, or even prevent loan closing.
- Change jobs. Career shifts during the mortgage process can be tricky as there are some strict rules when it comes to new jobs, probationary periods, or status changes.
- Lose track of your deposits. It’s best practice to make sure all deposits are sourced during the mortgage process. Keep copies of your checks and deposits slips. A good rule of thumb is to make small, separate deposits instead of large ones.
- Wait to liquidate your investments. If you feel the need to sell, do it sooner rather than later (and keep records of the transactions). The markets are ever-changing and taking a risk of being short on funds is not a great plan.
- Be afraid to ask questions! If you’re unsure, or better yet curious, about anything throughout the process, our mortgage experts are available to answer anything that might cross your mind. We’re all on the same team.
Primis Mortgage is a subsidiary of Primis Bank, a Member FDIC. Primis Mortgage NMLS #1894879 (www.nmlsconsumeraccess.org).