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.
The way you communicated with everyone involved in the transaction was outstanding. You were always right on time or ahead of schedule and you kept everything moving smoothly. I had full confidence the entire time and would be happy to work with you all again!
I tried with three other lenders. Because I had some extenuating circumstances. The others either couldn’t get me funded, or wouldn’t try. Alex was awesome frame the start did his home work. Worked at and got me a loan. I’m very appreciative of his knowledge and hard work. Thank you Alex.
Brad and AnnMarie are awesome to work with! They are knowledgeable and friendly and truly care about the people they work with. Anytime we had a question, they were ready to help and makes us feel at ease. I would definitely recommend them for anyone looking to buy a home or refinance.
Christy is a professional and is extremely knowledgeable of the business. Communication could not have been better. With weekly updates Christy was there to guide us every step of the way. Christy stands out in the business as her true passion is to help her customers achieve success.
Krishneel and Mike helped us through process, right from the beginning ..every thing was completed while sitting at home without for once going out. Mike and Krishneel were always there to help clear any doubts and the process was quite seamless. I highly recommend Summit Funding and the team.
Holden took his time and listen to what we wanted and needed. He suggested the best solutions and resources to solve any issues in the process. He’s knowledgeable and very experienced. He’s professional in every level. Thank you so much for everything Holden Thomas.