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The Do's and Don'ts of Obtaining a Real Estate Mortgage

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During the process of a home buyer's loan there are certain things to be aware of that could impact the loan transaction. During the loan approval process, the borrower's credit history, income and assets are verified for the initial approval and often times just before the loan closing. So here are some Do's & Don'ts to make home buyers aware of to help ensure closing:


  • Tell the mortgage planners of all debts and liabilities
  • Keep credit accounts current - such as existing mortgages, car payments and credit cards
  • Contact the mortgage planner before changing jobs, leaving your current job or becoming self-employed
  • Retain copies of all paycheck stubs and any statements on bills being paid off during the loan process


  • Authorize any inquiries into your credit (that is, don't apply for any financing including charge cards, appliances, vehicles or charge a large amount on an existing credit card)
  • Close any open accounts
  • Co-sign a loan for anyone else
  • Sign up with any credit repair or 'consolidation' companies
  • Spend money that has been set aside for closing
  • Make large account deposits into a bank account outside of payroll or gift funds

Article Courtesy of

Scott McCauley, Mortgage Planner

Regency Mortgage Corporation

Phone: 603.610.8852


NMLS #174108

Licensed by New Hampshire Banking Department, NMLS # 1938


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