Mortgage Do’s and Don’ts!


The Mortgage Do’s and Don’ts!

Tucson / Phoenix AZ: Every borrower wants their home buying experience to be simple and stress free. While it may not always feel like it, lenders want the same thing. Here are some timely “do’s and the all important don’ts” to consider during the loan application process. While no single list can completely cover all loans, following these basic and important “DO’s” and “DON’Ts” during your home loan mortgage application process will help you close your loan faster, sleep better at night, avoid premature gray hair, and help your loan officer give you the best service possible. So please pay close attention to the do’s and don’ts below:

Mortgage Do's and Don'ts


DO Contact your insurance agent early in the process and get a quote. Give the agent your mortgage lender’s information.

DO Promptly provide all documents (all pages, especially bank statements.. including blank pages) requested by your loan officer and processor to speed up your closing process.

DO Make sure your employment, assets and personal information are correct on your loan application.

DO Be prepared to explain/account for all non-payroll deposits into each account you intend to use towards your transaction.

DO Respond promptly to any requests for information from your loan officer or processor. When you delay getting information quickly, your loan may not close on time.

DO Continue to make all payments on time.


Don’t Apply for any new credit of ANY kind. Do Not finance, co-sign or lease anything!! Probably the number deal killer!

Don’t Make large deposits into your bank account. Your down payment should be seasoned, which means sitting in your bank account for at least 2 months prior to contract.

Don’t have any additional credit checks or inquiries on your credit report.

Don’t Raise red flags to the underwriters. Don’t co-sign on another person’s loan, or change your name and address.

Don’t Make changes with your employment or income. DO NOT QUIT YOUR JOB!!

Don’t Spend your down payment.

You probably see a trend here with this list – the best rule is “Don’t Change Anything!” And always contact your loan officer FIRST…. ALWAYS!!!

If you have any questions on the Home Buying Process, or other home loan financing questions, then just give us a call. 520-303-5620480-648-1733

Joseph Small and his Team at Guild Mortgage Co. helps Tucson and Phoenix Homeowners and homebuyers with all their home mortgage loan needs. Give them a call today! Also proudly serving Sierra Vista, Green Valley, Sahuarita and Nogales Arizona.



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