Tips for a Smoother Loan Process


The more your mortgage consultant knows upfront the smoother your loan process will go.


  1. Gift Funds-Contact your mortgage consultant prior to receiving or depositing gift funds into your account
  2. All Deposits-All large deposits (cash, checks, etc), all money transfers between accounts are required to be documented.
  3. A cash advance from a credit card is not an acceptable source of money for your earnest money deposit or for your closing costs.
  4. Do not transfer funds between accounts before or during the application process.  This may result in needing additional assets documentation to source the funds in your accounts.


  1. To process a loan it’s important your consultant have an accurate representation of your financial obligations so they can determine if you qualify for a loan.
  2. Disclose all reoccurring monthly payments to your mortgage consultant (child support, alimony, retirement account loans, employer loans, etc.)
  3. Continue to make all of your monthly payments on time.
  4. Do not payoff and close any credit accounts without talking to your mortgage consultant.  Closing an account may adversely affect your credit qualifications.
  5. Do not open any new accounts
  6. Do not run any new credit inquiries
  7. Do not charge any large amounts on your credit cards


  1. DO NOT change jobs prior to talking to your mortgage consultant to see how this may affect your mortgage approval.
  2. Contact your mortgage consultant immediately with any employment changes: being laid off, furloughs, active duty, taking an extended leave of absence, a pay increase, pay change-hourly to salary, salary to commission, etc.