Do's & Dont's.
Tips for a Smooth Loan Approval
Below are key items to do and to avoid during your home lending process. This list will help keep your loan on track and ensure an effortless home loan experience. Unsure if something will affect your loan approval? Just ask us! We have seen it all and can answer any of your questions.
- Immediately inform your Loan Officer if there are any changes in your employment, income, or assets.
- Continue living in your current residence.
- Continue making all mortgage or rent payments.
- Continue to make payments and stay current on all existing credit accounts.
- Be prepared with an explanation for any credit “blemishes” and recent credit inquiries.
- Research and select a preferred homeowner’s insurance provider.
- Make any major purchases or home improvements. (ie. auto, boat, appliances, furniture, pool)
- Apply for new credit or loans.
- Pay off any charge-off accounts, collections, loans, credit cards, or consolidate debt.
- Close any credit card accounts, max-out, or over-charge credit accounts.
- Change bank accounts of transfer balances from one account to another.
- Change the source of your “closing funds.”
- Deposit large amounts of cash into your own bank account without proper documentation.
We were appreciative of summits professionalism through out the loan process. We were a little surprised at how long the refinance took but since we were not in a rush for funds this was not a major issue for us. Over all we were very pleased with the team at summit
Veronica and Carmel are amazing at what they do!! They communicate thoroughly and work hard around the clock to make sure clients are happy and receive nothing but the best In all areas!! Would highly recommend Team Quintanilla to any family or friend!
From the first day i started this process, the team at summit funding was great! I thought the home buying process would be stressful, but this team proved me wrong! Next time I’m in the market for purchasing a home, i know who I’ll be contacting!
Linda made the entire process so effortless and pleasant. She possesses a great deal of patience, is exceptionally professional and kind as well. She explained everything thoroughly and made sure we were communicated with very promptly. She is a leader in her field!
Blake , David and Erin took on my client while in the middle of escrow after the last lender left us in the dust . They got him approved and saved the sale . Once approved it closed quicker then I have ever seen. Thank you all for everything. You’ve forever won my business!!!
Always prompt replies when I called. We were grateful to Stacy from Redding office, who drove to Red Bluff to expedite signing papers. You all made it an easy, pain free experience. I would definitely refer people to you! Thankyou!!! Steven n Linda