Getting Ready for Your Mortgage

Posted by Kathye Warfield on Jun 6, 2021 in Mortgage

What you should know when you're getting ready to buy a home


The more prepared you are, the easier the loan process will be.  Many changes have occurred in the past few years!


Get Organized

  • Gather your documents in one place

Be Smart with your money - every money decision can affect your ability to obtain a mortgage.

2 Months before applying for your mortgage:

  • No Cash Deposits into your bank accounts
  • No Major Purchases - Yes, that includes a car.  Buy the garage before the car.
  • Be careful when trasferring money - NO cash advances, no bank overdrafts

Pay Down Revolving debt/credit cards.  Goal is 30% of availabale credit.  This improves credit score(s).

Don't Change Jobs Voluntarily.  If getting transferred, ask about "trailing spouse" if your spouse works.

Don't Close any Accounts.

  • This sounds counterintuitive, but lenders want your status to remain as consistent as possible.

Getting a mortgage can seem overwhelming.  The Mortgage Loan Process to follow.


As always, we are always here to help you walk through the loan process, buy a home (whether it's your first or fifth!) or to sell your home.  We can even refer you to an agent in another area or state if needed.


KathyeWarfield Team