Keep Making Payments on Time
Continue paying your mortgage, rent, credit cards, auto loans, and other obligations by their due dates. Your credit and payment history may be reviewed again during the mortgage process.

Keep Your Finances as Consistent as Possible
Maintain your regular banking and spending habits. Save account statements, pay stubs, tax documents, and other financial records your mortgage team may request.

Continue Saving
In addition to a down payment, homebuyers may need funds for closing costs, inspections, moving expenses, insurance, and other costs. Homeowners refinancing may also have expenses associated with the new loan.

Respond Promptly to Requests
Your mortgage team may need updated documents or explanations throughout the process. Sending requested information quickly can help prevent unnecessary delays.

Ask Before Making a Major Financial Change
Talk with your loan officer before changing jobs, moving money between accounts, paying off a large debt, or making a major purchase. Your loan officer can explain whether the change could affect your application.

Review Your Loan Documents Carefully
Read your Loan Estimate, Closing Disclosure, and other documents. Ask questions about anything you do not understand. For most mortgages, the Closing Disclosure must be provided at least three business days before closing so you have time to review the final terms. 

Don’t Apply for New Credit
Avoid opening new credit cards, financing furniture, taking out a vehicle loan, or applying for other forms of credit before or during the mortgage process. New inquiries and debts could affect your credit profile or loan qualification. 

Don’t Make Large Purchases
Avoid financing a new car, furniture, appliances, or other major purchases before or during the mortgage process. Taking on new debt increases your monthly obligations, which can raise your debt-to-income ratio and affect how much you qualify to borrow or whether you continue to meet the loan program’s requirements. Always check with your loan officer first.

Don’t Close Credit Accounts Without Asking
Closing an account can affect your available credit and credit utilization. Speak with your loan officer before closing or significantly changing an existing account.

Don’t Move Large Amounts of Money Without Documentation
Transfers, cash deposits, gifts, and recently deposited funds may need to be explained and documented. Keep clear records and ask your mortgage team before moving money between accounts.

Don’t Change Jobs or Income Without Communicating
A change in employment, work hours, compensation, or self-employment status may require additional review. Contact your loan officer as soon as possible if something changes.

Don’t Assume You Have to Figure It Out Alone
Mortgage requirements can vary based on the borrower, property, loan program, and transaction. When in doubt, ask before you act.