Hey there future homeowners! Exciting times are ahead as you embark on the journey of buying your dream home. We know you’re eager to start planning the decor and imagining lazy Sunday afternoons in your new living room. But hold on just a sec – there are a few things you might want to keep in mind after applying for that mortgage and before you start picking out paint colors.

Let’s talk about some casual yet crucial tips to ensure a smooth sailing towards your homeownership dream:

Don’t Rain Cash, Keep it Traceable

Before you start stuffing wads of cash under your mattress, remember that lenders love a paper trail. If you’re planning on depositing large sums of cash, have a chat with your friendly loan officer first. They’ll guide you on the best way to document those transactions.

Hold Off on the Shopping Spree

It’s not just those fancy kitchen appliances that could raise eyebrows with your lender. Any big purchases might set off some alarm bells. Lenders frown upon new debt, so resist the urge to splurge on that giant flat-screen TV or that luxurious sofa set until after you’ve closed the deal.

No Co-signing Adventures

Thinking about helping a friend or family member out by co-signing a loan? Hold your horses! Co-signing makes you responsible for that loan, and lenders will count it against you. Even if you’re just the moral support, your lender might see it differently.

Keep Your Banking Stable

Consistency is the name of the game when it comes to your bank accounts. Before you decide to move money around, have a quick chat with your loan officer. They’ll appreciate the heads up, and you’ll avoid any unnecessary hiccups in the mortgage process.

Pause on the Credit Shenanigans

Whether it’s a shiny new credit card or a sleek car, hold off on those credit-related adventures. Multiple credit checks can throw a curveball at your FICO® score, affecting your interest rate and even your mortgage eligibility. Let’s keep those credit cards in check.

Don’t Slam the Door on Your Accounts

Closing accounts might seem like a smart move, but in the world of credit scores, it’s a bit of a faux pas. Your credit history and usage percentage matter, so keeping those accounts open is a strategic play.

Talk it Out with Your Lender

Communication is key, especially with your lender. If any financial twists and turns come your way – changes in income, assets, or credit – keep your lender in the loop. A quick chat can save you from potential hiccups down the road.

Home Buying, the Smooth Way

In the grand scheme of things, we want your home-buying experience to be as smooth as butter. So, before you make any financial moves, remember to consult with your lender. They’ve got the expertise to guide you through the do’s and don’ts, ensuring you’re on the right track to becoming a proud homeowner. Cheers to your future home!