Spring is just around the corner ~ a time when many people decide to purchase a new home and nearly all of these purchases will need to be financed.  Whether you're a first time or move up buyer, there are several Do's and Don'ts will aid in securing financing for your new home.

• DO continue to make payments on time for current mortgages, cars, credit cards, etc.
• DO  paper trail, document and explain any large or unusual deposits or withdrawals into checking, savings and stock accounts.
• DO ask questions if something is unclear about the loan program, fees or loan conditions.
• DO let your loan officer or mortgage broker know if anything changes from your initial application ~ for example, employment, income, assets or credit history.
• DO document that the earnest money deposit has cleared your account - obtain a copy of the canceled check or the bank statement that reflects the funds have cleared.
• DO lock-in your interest rate, have your homeowners' insurance agent information available and provide updated documentation (pay stubs, bank statements) as requested in a timely manner so as not to delay the closing.
• DO make sure your loan officer or mortgage broker and your HHB agent are in close communication throughout your home search and purchase process.

And now for the Don'ts:

• DO NOT increase credit card or loan balances.
• DO NOT apply for additional or new credit or put balances on a paid credit card.
• DO NOT ignore late payment or collection notices that are received during the mortgage process.
• DO NOT purchase anything that is "same as cash" as it will show on your credit report as a new debt.
• DO NOT purchase furniture, cars or appliances on credit until after closing.
• DO NOT lend money to family members or friends if it is needed for closing.
• DO NOT store money at home ~ deposit it in a bank account so it will be documented as savings throughout the loan process and can qualify as assets on hand.
• DO NOT have overdrafts on your checking account(s).
• DO NOT quit or change jobs during the loan process.

Need more advice for your personal situation? Don't have a lender?  We'd be happy to put you in touch with one of our trusted lending sources for guidance.  Call us at (513) 751-1200 or email us at hhbpartners@hhbpartners.com.