If you have ever applied for a mortgage you know how much paperwork it can be. Although we still close average transactions in less than 4 weeks, there are situations where unexpected things happen. This blog is a quick guide to the 3 things that can throw off deals, and sometimes make your mortgage originator cry. Consider it a list of things not to do during the loan process.

1. When a borrower quits their job (or gets fired) in the middle of the loan process. This shouldn’t be much of a surprise but if you are trying to qualify for a loan based on your income don’t change jobs during the transaction. You don’t have to stay at your job forever, just don’t quit in the middle of your mortgage process.

2. SURPRISES! Although life is full of surprises try to be as honest and upfront about all of your debts and financial information with your loan originator up front. Its never good when all of a sudden your mortgage team pulls your information and finds out you make great money but you have $23,000 in collection debt on that boat you forgot about. Remember you don’t need to over exaggerate your income to impress your mortgage company, we are more impressed with honesty and organization.

3. Disappearing Acts. Nobody loves vacations as much as we do but there are a lot of moving parts in the real estate and mortgage process and you may need to be around to sign documents and communicate. You can still take vacations just make sure to let everyone involved in the transaction know so that they can plan around your travel.

Just remember, your Realtor, your loan originator and an entire team of others are working their to their best level to help you close on your real estate transaction- before you make a “bone head” move, just think “What Would My Loan Officer Do?”

No harm can come from asking a question so whether you are already in the mortgage process or you are thinking about jumping in soon, you can call me or email me any time for free advice that will avoid tears in the future!