Tri-Valley Mortgage News

There have been numerous studies and surveys that reveal the process of obtaining a mortgage loan for most people to be among the most stressful life events they ever experience. This is no surprise given what's at stake. Your home is not just the single largest investment you will most likely ever make. It is an extension of everything you are. Your home is more than wood and stucco. It is where you and your loved ones experience life - the good and the bad.

For this reason, we have compiled a list of tips that you can use to help make your loan process smoother and less stressful. Life is full of changes and variables. It is almost impossible for us to sit down with a client at their application appointment and predict for them every twist and turn that will lie ahead during this transaction. However, we have been in this business for a long time and have funded thousands (yes, thousands!) of loans. This has given us a broad perspective of the lending landscape. In our experience these are the most common issues that can thwart your mortgage loan process. If you have this information ahead of time, you will be well on your way to a pain-free loan transaction.

DO stay current on all your existing credit accounts

DO keep working at your current employer.

DO continue making your mortgage or rent payments on time.

DO continue living at your current residence if possible.

DO keep your same insurance company.

DO keep all your paystubs for at least a one month period.

DO keep at least the three most current months' worth of bank statements.

DO call us if you have any questions about this list

DON'T make a major purchase.

DON'T apply for new credit (even if you seem pre-approved).

DON'T open a new credit card.

DON'T transfer any balances from one account to another.

DON'T consolidate your debt onto 1 or 2 credit cards.

DON'T pay off charge offs or collections without discussing it with us first.

DON'T buy new furniture.

DON'T close any credit cards.

DON'T change bank accounts.

DON'T max out or over-charge on your credit cards.

DON'T take out a new loan.

DON'T start any home improvement projects.

DON'T open a new cell phone account.

DON'T pay off any loans or credit cards without discussing it with us first.

 We could go on and on but these are the top issues that seem to come up the most.  And as always, if you have any doubts about a financial "move" you are about to make, by all means, run it past us or your lender. We are here to guide you through this often stressful time and it is our job to advise you. We are never too busy to talk to you so please do not hesitate to give us a call!