Tips For SMOOTH Mortgage Loan Approval

Below is a list of helpful tips to ensure an effortless loan process. These loanapprovedDO’s and DON’Ts may help avoid delays with your loan approval.

Preferred Home Lending says…

  • DO continue making your mortgage or rent payments on time
  • DO stay current on all existing accounts
  • DO keep working at your current employer
  • DO keep your same insurance company (if this is a refinance)
  • DO continue living at your current residence
  • DO continue to use your credit as normal
  • DO call us if you have any questions

Preferred Home Lending says…

  • DON’T make a major purchase (car, boat, jewelry, etc.)
  • DON’T apply for new credit (even if you are pre-approved)
  • DON’T open a new credit card
  • DON’T transfer any balances from one account to another
  • DON’T pay off charge offs without a discussion with us first
  • DON’T pay off collections without a discussion with us first
  • DON’T close any credit card accounts
  • DON’T change bank accounts
  • DON’T max out or over charge on your credit card accounts
  • DON’T overdraft on your bank accounts
  • DON’T take out a new loan
  • DON’T start any home improvement projects
  • Don’t overdraft on your bank accounts

If you encounter a special situation, it is best to mention it to us right away so we can help you determine the best way to achieve your goals.

PHLThese tips are brought to you by our In-House Lender PHL- Preferred Home Lending and Senior Mortgage Loan Officer, Melissa Maxwell, MMLS ID 275428   MLO 10-2036 Contact Melissa Office- 636-720-1100 Cell- 314-712-0673 or visit her online at- http://melissaloans.com

Prudential Select Properties St Charles County Office, 636-720-1100

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