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Dos & Don’ts
Dos and Don’ts for the Mortgage Process
The Santalucia Team – Fairway Home Mortgage has helpful homebuying advice with our mortgage dos and don’ts in Glendale, AZ. Learning a few tips can make your mortgage process smoother, leading to a timely and successful home purchase.
Work With Our Trusted Mortgage Team
Choosing an experienced and knowledgeable loan team is crucial, so The Santalucia Team – Fairway Home Mortgage will keep your best interests in mind throughout your mortgage process. We help match homebuyers with the right mortgages every day.
Our experts offer a personalized approach to mortgages, helping you choose the right loan solution for your goals and budget. We include you in the process with open communication and answer your questions.
Tips for Getting the Perfect Mortgage
Securing the perfect mortgage means staying organized and informed. Follow these tips from The Santalucia Team – Fairway Home Mortgage to streamline your process, avoid delays, and prepare for every step, from your application to closing:
Access Financial Information
Keep originals or ensure you have access to all pay stubs, bank statements, and other essential documents on employer and bank websites. Complete your earnest money deposit with acceptable gift funds from your bank account.
Keep Up With Documentation
Provide all documentation for selling your current home, including the sales contract, the closing statement, and an employer relocation/buy-out program, if applicable. Be aware that a new credit report could be pulled before closing.
Contact Your Loan Officer
Notify your loan officer if you plan to accept gift funds for closing. Also, inform your loan specialist of any employment changes, including a recent pay raise, promotion, transfer, or change of your pay status.
Avoid Any of These Mortgage Don’ts
Our team of mortgage professionals can help you stay on track, maintain your loan eligibility, and ensure a smoother path to homeownership. Here are common pitfalls to avoid that can jeopardize your mortgage approval:
- Don’t close or open asset accounts or transfer funds between accounts without checking with your loan officer about documentation. For example, before transferring all funds from your savings to your checking account.
- Don’t deposit any monies outside of your automated payroll deposits, particularly cash or the sale of personal property, without notifying your loan officer. Many guidelines for these require substantial documentation.
- Don’t open or increase any liabilities during the mortgage process, including credit cards, student loans, or other credit lines. Also, don’t make major purchases before or during your contract, as they may impact your loan qualification.
Our Mortgage Team Is Here to Help
For more information about mortgage dos and don’ts in Glendale, AZ, The Santalucia Team – Fairway Home Mortgage has specialists ready to answer all of your questions. We’re here to help you complete a mortgage application, calculate your budget, and determine the ideal home price. You can keep your mortgage journey on track by following our recommended steps and avoiding a few common pitfalls. So, reach out to us today for answers to your questions.
Your Trusted Team for Purchase Loans
The The Santalucia Team – Fairway Home Mortgage team can match you with the right purchase loan. Let’s talk about your plans and find one that works.Apply Now