DOs & DON'TS
Without a pre-approval, you may be limiting your possibilities of getting a house. A pre-approval letter alone will greatly increase your purchasing power by allowing you to determine what you can afford and significantly narrowing in your home search. Not only is it important to get approved, but you must STAY pre-approved through the process. Here are some helpful tips to help you get and STAY approved...
Things to Do
- Pay ALL your bills on time including mortgage or rent payments
- Maintain the balances on your credit cards and continue to use your credit card as you normally would
- Keep credit card balances at or below 40% of credit limits
- Stay employed and do not change jobs
- Keep your account balances at or above the amount when you started the loan process
- Call us with any questions or concerns
Things to Avoid
- Quit your job or change jobs unless it is the same line of work and for equal/more money
- Travel and not inform us where you will be and when you will return
- Co-sign for anyone else on any type of loan
- Transfer large sums of money in our out of your bank accounts
- Buy an automobile or other major purchase including other real estate
- Add debt of any type or have your credit pulled while you are in the loan process
During the loan funding process, PLEASE contact your loan officer before making any financial decisions that may affect your credit or if you have any questions about maintaining your pre-approval.
If you're interested in buying a home in Montana, Mann Mortgage can help you make it happen. Please contact us today or apply online in less than 10 minutes using the secure online application below.