Loan Do’s & Don’ts
Do:
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Tell the loan officer everything; disclose all potential problems with regard to credit,
employment, and source of funds. -
Disclose all income and debts.
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Disclose all sources of funds.
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Ask questions.
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Bring a cashier’s check to the closing. Personal checks are not usually accepted.
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Disclose alimony and child support.
Don’t:
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Incur additional debt while loan is in progress.
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Apply for new credit during the application process.
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Change employment while loan is in process.
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Transfer funds between depositories without keeping detailed records.
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Make any large purchases during the loan process.
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Procrastinate providing information when requested.
