You’ve found your dream home—congrats! Now let’s make sure the mortgage process is just as exciting and stress-free. At Flat Branch, we pride ourselves on creating seamless transactions, but there are also steps you can take to make things move even faster and with less stress for everyone involved.

Here are our top recommendations:

Pay All Bills on Time
Your credit score is one of the most important factors in qualifying for a home loan. Even one late payment on a credit card, loan, or utility bill can cause your score to dip at a critical time. Staying consistent with your payments ensures your credit remains stable and helps you qualify for the best loan options available.

Return All Requested Documents Quickly
Your loan officer will need various documents throughout the process, such as pay stubs, bank statements, or tax forms. The faster you provide these items, the faster we can move your loan forward. Having your paperwork ready to go and responding quickly to requests keeps everything on track and avoids unnecessary delays.

Continue Saving
Many buyers focus only on saving for the down payment, but additional costs like closing expenses, moving costs, and small home improvements can add up quickly. Continuing to save during the mortgage process ensures you’re financially prepared for every step and able to comfortably transition into your new home.

Keep Documentation to Source All Funds
Lenders are required to verify where your money is coming from. Whether it’s a bonus from work, a gift from a family member, or funds from selling an asset, keeping clear records is essential. Providing documentation for every deposit helps us confirm your funds and avoids last-minute issues.

Don’t Open or Apply for New Accounts
Opening a new credit card, loan, or even a bank account can negatively affect your credit and complicate the approval process. New accounts often trigger a credit inquiry, which can lower your score. It’s best to wait until after closing to make any changes to your financial accounts.

Don’t Use Cash or Money Orders for Earnest Money
When it comes to earnest money, transparency is key. Using cash or money orders makes it difficult to track the source of funds, which is required for your loan approval. Always involve your loan officer so we can ensure earnest money is properly deposited into an escrow account.

Don’t Change Jobs, Become Self-Employed, or Quit
Lenders must verify your income and employment to approve your loan. Changing jobs, becoming self-employed, or leaving your position during the mortgage process can cause major delays or even disqualify you. To keep things moving smoothly, plan on maintaining your current employment status until after closing.

Don’t Purchase Large Items
It can be tempting to start shopping for furniture, appliances, or even a new car before you close, but large purchases can change your debt-to-income ratio or drain the funds you’ve set aside. Hold off on major purchases until your loan has closed to protect your approval status.

Don’t Spend Money Saved for Closing or A Down Payment
While it may seem obvious, it’s worth emphasizing—do not touch the funds you’ve earmarked for closing or your down payment. These amounts are calculated and spending them elsewhere could create a shortfall that delays or prevents closing. Keeping these funds intact ensures you’re fully prepared for the big day.

Have questions or need help navigating your loan? Reach out to your Flat Branch loan officer today—we’re here to make home happen!

Tips for a Smooth Mortgage Process