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Do’s and Don’ts During the Mortgage Process

Published on: August 25th, 2018 | Written by Jimmy Vercellino

So you are getting ready to purchase a home? Awesome! Okay, now you might be freaking out over the mortgage process because you’ve probably heard a dozen horror stories from close friends, Uncle Joe, your Cousin Rob and of course…Mom and Dad.

The reality is that getting a mortgage loan does not have to be an overwhelming process. We believe that if you follow some simple do’s and don’ts that you may actually be able to…dare I say enjoy obtaining a home loan. Wait, what? Did I really just say that you could actually enjoy the mortgage process? I think I did. Okay, allow me to clarify.

With the right mortgage team (insert shameless plug) making sure that your loan is originated correctly and that all of your bases are covered you most certainly can. Okay, now back to the list. Below is a simple list that will allow you to glide through the mortgage process with ease on your next home purchase.

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What to Do After You Have Applied for a Home Loan

  1. Do – Keep things stable! Try not to make any significant life changes that could impact the buying process. For example moving large sums of money from one account to another.
  2. Do – Keep detailed records. Make sure you have access to all of the important tax and income docs, banking information, and more.
  3. Do – Provide your mortgage lender with everything they request at the beginning. This will decrease the amount of work you have to do later on in the transaction.

What NOT to Do After You Have Applied for a Home Loan

  1. Don’t – Change jobs. A job or career change can literally derail the mortgage process, causing you to kiss those soon-to be-keys goodbye.
  2. Don’t – Apply for any new debt. Any new debts could throw your approval out of whack and be the cause for decline.
  3. Don’t – Be the reason for delay. Remember your Mortgage Team has a job to do and that is to help you get into your home quickly and efficiently. Getting them everything they request ASAP helps us, help you, and in turn gets you into your home sooner.

I hope you have found this simple list to be of value. If you are looking for a Phoenix Mortgage Lender in AZ I would be honored to serve you. To set up your personal preliminary mortgage consultation please contact my office at 480-351-5904 today.

With Gratitude,

Jimmy Vercellino

Buyer Education

About Us

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Goldwater Bank N.A.
Mortgage Division

NMLS #452955

5050 North 40th Street,
Phoenix AZ 85018

Important

Important Information about Procedures for Opening a New Account.

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account (e.g., establishes a formal relationship by means of a loan application). What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

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Jimmy Vercellino

NMLS# 184169

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