Do's & Dont's.
Tips for a Smooth Loan Approval
Below are key items to do and to avoid during your home lending process. This list will help keep your loan on track and ensure an effortless home loan experience. Unsure if something will affect your loan approval? Just ask us! We have seen it all and can answer any of your questions.
- Immediately inform your Loan Officer if there are any changes in your employment, income, or assets.
- Continue living in your current residence.
- Continue making all mortgage or rent payments.
- Continue to make payments and stay current on all existing credit accounts.
- Be prepared with an explanation for any credit “blemishes” and recent credit inquiries.
- Research and select a preferred homeowner’s insurance provider.
- Make any major purchases or home improvements. (ie. auto, boat, appliances, furniture, pool)
- Apply for new credit or loans.
- Pay off any charge-off accounts, collections, loans, credit cards, or consolidate debt.
- Close any credit card accounts, max-out, or over-charge credit accounts.
- Change bank accounts of transfer balances from one account to another.
- Change the source of your “closing funds.”
- Deposit large amounts of cash into your own bank account without proper documentation.
From our first meeting with Jared to the closing on our new home, Jared communicated well and answered all our questions in a timely manner. He made the entire home purchase effortless, so we could focus on our move. We will definitely refer friends and family to him for their home buying needs.
Brycen Gonser was so easy to work with! He was very professional, knowledgeable and always kept in good communication with me. This was not an easy transaction and Brycen always "rolled with the punches" and remained positive through out the process:) I look forward to my next transaction with Brycen:)
The people I worked with are extremely knowledgeable, helpful, responsive, understanding and kind. Purchasing a home is stressful under normal circumstances; having to deal with COVID-19 On top of it made me appreciate the people I worked with even more. James and Joan are great and made me feel more at ease during the whole process.
Jim and his team were incredible to work with. Quick and simple communication through the entire process made for an extremely quick close. I cannot thank them enough for such a painless and fast experience. I'll happily refer everyone I know to the Reed team!!
Excellent communication. That is super important. Clear, honest, and detailed explanations from everyone I interacted with at the office. My call/emails/texts were always returned as soon as possible. And very professional and friendly staff! Thank you so much.
I've used Newton's team in the past for my personal home. I used him again for a second property and I was equally pleased. Him and his team (Mekala and Maddie) are great. They are very responsive and always available to answer your questions. I would highly recommend them.