Protect Your Approval From Application to Closing
Simple habits that keep your loan on track.
What you do during the loan process matters. This guide covers what to keep, what to bring, and what to avoid, so nothing gets in the way of your closing.
Do
Keep copies of your pay stubs, bank statements, and other important financial documents, or make sure you can easily access them online through your employer or financial institution.
Verify that your bank can provide wire transfers and cashier's checks, as they're commonly required for closing.
Provide your earnest money deposit from your own personal bank account or acceptable gift funds.
Provide all documentation for the sale of your current home, including sales contract, closing statement, and employer relocation or buy-out program, if applicable.
Notify your loan officer if you plan to receive gift funds for closing. Gift funds are acceptable only if certain criteria are met.
Be aware that a new credit report could be pulled just prior to closing.
Don't
Open or close any asset accounts or transfer funds between accounts without first consulting your loan officer.
Deposit funds outside of your normal payroll deposits without checking with your loan officer first.
Make major purchases prior to or during your contract, such as a new car, furniture, appliances, etc.
Open new credit accounts or increase existing debt during the loan process. This includes credit cards, student loans, buy now, pay later accounts, and other lines of credit, as doing so could affect your loan qualification.
Change jobs or employment status without first notifying your loan officer. This includes changing employers, accepting a promotion, transferring positions, changing your compensation structure, or becoming self-employed.
Educational and general in nature. Every loan is different, so check with me before making any financial changes during your loan process.
Not sure if something will affect your loan?
Ask me before you make the move.
Ruthie Crawford
Licensed Mortgage Loan Originator, Fairway Independent Mortgage
NMLS #2759858
503-250-4247 | ruthie.crawford@fairwaymc.com
Serving clients in Oregon, Washington, and Arizona
