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Loan process don’ts.

Make sure nothing gets in the way of achieving your clients’ home financing goals. Some DON’Ts may seem obvious, but others not so much. Check out this list to make sure your clients avoid the TOP 10 DON’Ts during the process of buying their new home.

 

  • Please don’t send any wire transfers throughout the loan process to anyone, without speaking directly to your Loan Officer on the phone first.
  • Transfer money between accounts, unless receiving complete documentation from your bank itemizing all transfers.
  • Withdraw or deposit large sums into your checking or savings accounts unless absolutely necessary.
  • Make any career moves.
  • Allow your bank accounts to go in the negative, even if you have overdraft protection.
  • Apply for new credit in any form, or apply for credit to consolidate.
  • Have a friend or relative pay for anything related to the purchase of the home (appraisal, earnest money, down payment, etc), since gifts are only allowed under certain guidelines.
  • Close credit card accounts; if you close a credit card account, it may appear that your debt ratio has gone up.
  • Give your personal information to anyone else who might run your credit report as credit inquiries may hurt your score.
  • One more helpful tip:
    • If you keep cash in a safe or an overseas account and plan to use these funds as a down payment…inquire about how and when would be the best time to put funds into your U.S. bank account, if needed.

Courtesy of New American Credit Funding

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Karina Pacific

Beautiful Los Angeles. From the truly stunning views of our sunsets and beaches, to the rich diversity of our communities, Karina Pacific love it all.

As a life-long Los Angeles resident, Karina Pacific has always held a deep appreciation towards our city’s real estate and in particular, the unique stylistic nuances found in each community. Whether you are an aspiring first time home buyer, or an entrepreneur looking for investment property, or simply dreaming of the perfect vacation home, Karina can successfully navigate buyers and sellers to achieve their ideal real estate needs. Using the latest marketing techniques and technologies, Karina will use her intimate knowledge of our individual cities to develop and create the perfect marriage of buyer and seller. Let Karina Pacific help you achieve your real estate goal and find the property of your dreams.

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