Helpful Hints for a Smooth Transaction 1. Be careful about job changes A new job, although exciting, could put a temporary end to your loan application.  Stay in touch with us to discuss how salary, probationary periods and starting a new business can fit into your plan. 2. Document transfer of funds between banks Your transfers will appear on your statements as new deposits and may delay the processing of your file.  Lenders need to verify the source of the funds you plan to use at closing.  This includes retirement accounts, IRA’s, savings and checking as well as gifts you might receive from a family member.  As part of your consultation with us we will explain how to successfully document the transfer of your money between your banking accounts. 3. Keep your financial information handy Don’t pack or shred items such as pay stubs, bank statements, retirement statements or tax returns and W-2 forms.  They may be required documentation for your loan and applying for duplicate copies might delay your closing.  Maintain this paperwork separately so you are prepared when you need to provide them. 4. Don’t make major purchases during your transaction It’s not a good idea to purchase or lease a new car or buy furniture and appliances while applying for your mortgage.  We need to carefully review your asset and debt structure for qualification of the loan. Incurring new debt or using a portion of your savings could have a negative impact on your loan approval.  Be sure to stay in contact with us to receive the proper advice on how to handle these situations. 5. Consolidating bills may not be necessary During your pre-approval, we will advise the best way to deal with your current debt structure.  Merging credit cards and obtaining credit counseling may reflect negatively on your credit report and disqualify you for some types of loans.  It might not even be necessary for you to re-arrange your bills and obtain a mortgage.  We will explain how your personal situation affects your goals. Keep in mind, if you have already done these things, we can help you to re-qualify for a mortgage!