WARNING: Once you have obtained a pre-approved, standing loan approval and or commitment it is critical to acknowledge the instructions found below. If you do not comply you may be denied a loan and or lose your loan commitment. Do not think your mortgage loan is safe simply because you’ve already received a loan approval and or commitment, as the lender will likely re-verify everything just prior to actually funding the loan.
Thou shall not use existing credit cards out of the ordinary (increase or decrease balances/limits) or inquire for new credit cards.
Thou shall not make any major purchases. A major purchase that requires a withdrawal from your verified funds or increases your debt can result in not qualifying for the loan.
Thou shall not change jobs, quit job, or jeopardize one’s present job.
Thou shall not be late with ANY and ALL monthly payments.
Thou shall promptly provide any and all information, paperwork and or payments that may be requested of you, by the following; your realtor, lender/mortgage broker or banker, appraiser, inspector, Title Company and home owners insurance.
Thou shall not change marital status.
Thou shall not switch banks, transfer money from or to different bank accounts or deposit cash. All money must have a (60 day) history in the same account.
Thou shall not pay off existing accounts unless your lender requests you to do so.
Thou shall not make any large deposits out of the ordinary; it may cause loan delay or denial.
Thou shall file your tax returns on time.
Thou shall consult with their lender ASAP in regards to large gift funds they must have a documented. “Gift Letter”
Thou shall disclose ownership of all properties, to include properties under an LLC or corporation even if you own them free and clear, you are still liable for tax and insurance payments.
Thou shall disclose any and all child support or alimony payments you are required to make.
Thou shall not fail to disclose or attempt to hide pertinent information, lenders cross-reference everything.
With over two decades of experience and a proven track record. With prestigious certifications, unbeatable integrity, and a commitment to excellence, Laura's innovative approach and deep knowledge make her the superior choice for buyers and sellers in the Palm Beaches.