Things to avoid when buying a home                   

Don't Make a Major Purchase If you are depending on a mortgage to move in, don’t make any major purchases until after the closing on the home (fight the urge to get a new car to put in your new driveway). An increase in your debt to income ratio reduces the amount of monthly income available for your mortgage payment. Using cash to purchase the car could also create a problem, since banks consider cash reserves when approving your mortgage. If you must make a major purchase before closing, talk to your loan officer before you do it.

Don't Change Jobs Unless It's Necessary Lenders like to see a consistent job history. They aren't usually as nervous if you change jobs within the same field, but it's better to stay put until the keys to the house are in your hand.

Don't Ignore Lender Requirements

Don't take out any new installment loans or alter your existing debt. (Trade autos, buy furniture, etc.) If you find it necessary to buy personal items, put them in layaway. Try not to make any purchases over $100.00.

Don't  open any new revolving accounts. (Visa, Sears, etc.)

Don't change banking institutions or affect your banking affiliation. Please do not transfer funds from one account to another. ALL FUNDS for closing must be verified in writing before your file can be submitted for loan approval.

Don't borrow any money for the down payment or for closing costs. If receiving a gift of money to assist in this purchase, the funds must be verified in the donor's account as well as your own bank account after the money is transferred. ALL FUNDS must be verified in writing before your loan can be submitted for approval

Don't do anything to affect your domestic or personal status.

Don't receive any late notices regarding your present debts. Please make all current payment obligations on or before the required due dates.

Don't Let Your Emotions Take Over Be realistic. No home is perfect, especially older homes. If the seller refuses to do a small repair, don’t let it kill the deal on a home you truly love, realize It's not unusual for new owners to take care of some repairs themselves. Keep a cool head during the entire home buying process, especially during and after an inspection. On the other hand, don't fall so much in love with the house that you'll buy it no matter what needs to be done--unless you're absolutely sure you can handle it emotionally and financially. Decide what type of repairs you can realistically tackle, then stick with the decision.

Don't Forget to Switch Utilities What sounds simple, but you'd be surprised how many people forget to apply for utility service at their new home. Call the utility companies as soon as you have a contract. Find out how many days lead time they need to switch the service, then get back with them when you have a firm closing date. Don't forget to discontinue services at your old home.

Line Up Your Hazard Insurance A no-brainer, right? Acquire hazard insurance as early as possible, as it’s another often-forgotten task that buyers scramble to take care of at the last minute. Lenders will ask to see an insurance binder showing you have coverage at the closing. In some locations, additional types of insurance coverage might be necessary. Talk to your lender about insurance requirements well before the closing date.

Don't Become Best Friends with the Seller While it's great to be friendly, but don't get into too many long discussions with the sellers, because it could cloud your judgments. Remember, this is their home. A casual statement about "ripping up that ugly carpet" might be enough to keep the seller from negotiating with you about repairs or other issues that crop up.

Don't Panic if the Appraisal Comes in Low At least not at first. There are some things you (and your agent) can do to correct the problem.

Don't Go It Alone As your agent, it's my duty to track many of the day to day details that involve the lender, the seller, or the seller's agent.

Reminder: An enormous amount of time and cooperation will be required from many parties such as real agents, employers, banking institutions, creditors, appraisers, pest inspectors, surveyors, agents, title companies, loan processors, underwriters, investors, and reporting agencies in to submit and approve your loan. In addition, information required by or provided from government agencies such as FHA or VA may play a significant role in determining the ultimate

We attempt to request all relevant information concerning your file at the time of application. However, you may be asked to provide additional information several times during the processing to clarify or document items concerning your file, which we may not be able to anticipate. For us to best prepare your file for the underwriter we are required to follow very explicit guidelines and procedures which are much more detailed than the average consumer loan. Your file is being reviewed solely on the information and documentation we collect.

Please retain all pay stubs and bank statements from the time of application to closing. Your cooperation in getting any additional information to us as quickly as possible is greatly appreciated. Try to refrain from making any major expenditures, professional changes or personal decisions, which may affect the processing of your loan. If you are in any way unsure about an issue, do not hesitate to contact your loan originator for advice. Remember, NO ONE benefits from this transaction until your loan is actually closed. Working together we will ensure a relatively quick loan approval and efficient closing.