I have a great resource for mortgage information in Martin Rodriguez at Wintrust Mortgage. I asked him to give me a list of DO’S and DON’TS for home buyers. He whipped up this info in a flash:

During the process of your loan, there are certain “Dos and Don’ts” which may affect the outcome of your loan request. Many times credit, income and assets are re-verified after closing.
So, these guidelines remain in effect until your loan has been closed, funded and been recorded.

PLEASE MAKE SURE YOU DO NOT:
- Take on any additional debt on your existing credit cards or lines of credit. All debt must be disclosed.
- Change jobs unless it is the same line of work and for equal or higher pay. Please notify us if this occurs.
- Allow anyone to make an inquiry on your credit report.
- Change bank accounts or transfer money within your existing bank accounts.
- Co-sign for anyone on anything.
- Purchase a vehicle or any other real estate.
- Apply for credit anywhere or complete any other credit application
- Start any home improvements that are not a condition of the loan.

PLEASE MAKE SURE YOU DO:
- Keep all accounts current; mortgages, car payments, credit cards, utilities, etc.
- Keep copies of all paycheck stubs and any statements on paid-off bills throughout the loan process.
- Make payments on all accounts on or before the due date, even if the account is being paid off with your
new loan.


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