Tips for a Smooth Mortgage Approval

 

These helpful tips can help you avoid any delays in obtaining a mortgage approval

The mortgage process can be a stressful time. PMA prides ourself on communicating with you throughout the process to ensure that you get from application to closing as smoothly as possible. There are also things you can do to make sure there are no surprises during your home buying or refinance transaction.

Mortgage DOs
  • Continue making your mortgage or rent payments
  • Stay current on all existing accounts
  • Keep working at your current employer
  • Keep your same insurance company
  • Continue living at your current residence
  • Continue to use your credit as normal
  • Most importantly, call us if you have any questions!
Mortgage DON'Ts
  • Avoid making large bank deposits before discussing with us
  • Avoid making a major purchase (car, furniture, jewelry, etc.)
  • Avoid applying for new credit (even if pre-approved)
  • Avoid opening a new credit card
  • Avoid transferring any balances between accounts
  • Avoid paying off charge offs without discussing with us
  • Avoid paying off collections without discussing with us
  • Avoid closing any credit card accounts
  • Avoid changing bank accounts
  • Avoid maxing out or over charging your credit cards
  • Avoid consolidating your debt onto 1 or 2 credit cards
  • Avoid taking out any new loans
  • Avoid any home improvement projects
  • Avoid paying off loans or credit cards without discussing with us
  • Avoid changing job