Do This!

Who doesn’t love a good list? Here’s a resource for anyone thinking about buying a home or refinancing. Use it to educate yourself now about what you’ll be asked to document for your mortgage application process.

Do - Provide your Earnest Money Deposit from your own personal bank account. Have a sufficient balance available so your check doesn’t bounce! Know that your relatives will have to show their bank statement when they give you a gift.

Do - Provide all documentation for large deposits to your bank account, such as the sale of your car, or your employer’s relocation reimbursement.

Do –Have access to all of your paystubs, tax returns, and bank statements. Make sure we take clear copies and you get your originals back!

Do - Notify your mortgage advisor of any employment changes such as being on probation, recent raises or overtime, promotions, or changes from salary to commission.

Do - Make timely payments on all current debts, including any current mortgage, car loans, student loans, or credit cards. Hold off on applying for new consumer credit.

Do - Notify your mortgage advisor about any changes to your mailing address, phone number, or email address.

We love clear paper trails! Help your lender help you by submitting clear and complete documents up-front.

Tammy Engel is your local Mortgage Advisor, working for your best interest since 1990. Contact her at 661/822-7325 for purchase, refinance, and reverse mortgage.