{"id":17662,"date":"2018-05-30T10:54:17","date_gmt":"2018-05-30T18:54:17","guid":{"rendered":"https:\/\/www.hayden-homes.com\/?p=17662"},"modified":"2023-06-14T16:32:36","modified_gmt":"2023-06-15T00:32:36","slug":"blog-dos-and-donts-during-the-home-loan-process","status":"publish","type":"post","link":"https:\/\/www.hayden-homes.com\/blog\/blog-dos-and-donts-during-the-home-loan-process\/","title":{"rendered":"The Dos and Don\u2019ts During the Home Loan Process"},"content":{"rendered":"<p>In order to be approved for a new home purchase, potential homebuyers must work closely with their loan officer and provide a variety of documents including financial documents, proof of employment, credit check, and more. With your <a href=\"https:\/\/www.hayden-homes.com\/home-plan-gallery\/\" target=\"_blank\" rel=\"noopener noreferrer\">brand new dream home<\/a> on the line, there\u2019s a lot at stake, so here are some dos and don\u2019ts to consider during the home loan process:<br \/>\n<a href=\"\/blog\/wp-content\/uploads\/2018\/05\/Thumbs-Up-What-to-Do-during-the-home-loan-process.jpg\"><img loading=\"lazy\" class=\"aligncenter size-medium wp-image-17664\" src=\"\/blog\/wp-content\/uploads\/2018\/05\/Thumbs-Up-What-to-Do-during-the-home-loan-process-300x188.jpg\" alt=\"What-to-Do-during-the-home-loan-process\" width=\"300\" height=\"188\" \/><\/a><br \/>\n<strong>Dos: Things to Do While Your Home Loan Is Being Considered<\/strong><br \/>\nAs you\u2019re getting your home loan documents together, or as you are waiting for a loan underwriter to approve your loan, there are a number of things that you can do to improve your chances of being approved. These include:<\/p>\n<ul>\n<li><strong>Do <\/strong>include <em>all<\/em> financial information in your loan application. Failing to disclose something can result in a delay in approval.<\/li>\n<li><strong>Do <\/strong>use the money you saved for your down payment,<strong> <u>just for that<\/u><\/strong>. Your down payment. Odds are, you\u2019ve likely saved for a while to pay for your down payment and you\u2019ll want to use that money solely for that purpose.<\/li>\n<li><strong>Do <\/strong>be honest. Fudging documents to improve your chances of getting approved won\u2019t work, and will likely hurt your chances instead.<\/li>\n<li><strong>Do <\/strong>follow up with the loan officer. Chances are the loan officer in charge of your loan is processing multiple other applications simultaneously. With so much on their plate, it never hurts to check in with your loan officer on a regular basis and ask questions about the loan process. Be responsive, so that the process can speed along.<\/li>\n<\/ul>\n<p><strong><a href=\"\/blog\/wp-content\/uploads\/2018\/05\/Donts-during-the-home-loan-process.jpg\"><img loading=\"lazy\" class=\"aligncenter size-medium wp-image-17666\" src=\"\/blog\/wp-content\/uploads\/2018\/05\/Donts-during-the-home-loan-process-300x200.jpg\" alt=\"Donts-during-the-home-loan-process\" width=\"300\" height=\"200\" \/><\/a>Don\u2019ts: Things to Avoid During the Home Loan Process<\/strong><br \/>\nJust as there are a number of things that you can do during the home loan process, there are also a number of things that you should avoid doing when applying for a mortgage loan. These include:<\/p>\n<ul>\n<li><strong>Don\u2019t<\/strong> <strong>open new credit cards or apply for other loans.<\/strong> Financial changes right before applying for a home loan, or during the approval process, can harm your chances.<\/li>\n<li><strong>Don\u2019t quit your job, change jobs, or become self-employed. <\/strong>A bank will only give you a loan if you can prove that you have the means to repay it, which typically means a steady stream of income. Quitting or changing jobs right before getting a loan can result in home loan denial.<\/li>\n<li><strong>Don\u2019t make any unusual or large purchases. <\/strong>Remember, a lender will consider <em>all<\/em> of your financial history and financial transactions before approving your loan. Things like buying a new car, enrolling in graduate school, or even buying large furniture before you buy your home, could hinder your chances of being approved.<\/li>\n<li><strong>Don\u2019t take other financial risks\/changes<\/strong>. This includes things like co-signing on a purchase for someone, changing to a new bank or making a large deposit into your bank. Your lender will want to ensure that you are financially stable and any of these things can hinder your chances of being approved.<\/li>\n<\/ul>\n<p><strong>Learn More About the Lending Process and Buying a New Home Through Hayden Homes<\/strong><br \/>\nIf you have fallen in love with your dream home by Hayden Homes, the next step is securing financing. At Hayden Homes, we not only have brand new homes for sale in <a href=\"https:\/\/www.hayden-homes.com\/state\/new-homes-washington\/\" target=\"_blank\" rel=\"noopener noreferrer\">Washington<\/a>, <a href=\"https:\/\/www.hayden-homes.com\/state\/new-homes-oregon\/\" target=\"_blank\" rel=\"noopener noreferrer\">Oregon<\/a>, and <a href=\"https:\/\/www.hayden-homes.com\/state\/new-homes-idaho\/\" target=\"_blank\" rel=\"noopener noreferrer\">Idaho<\/a>, but we can help you get in touch with a lender to get the process started. Your preferred new homebuilder is ready to get you into your beautiful new home today!<br \/>\n<a href=\"https:\/\/www.hayden-homes.com\/contact\/\" target=\"_blank\" rel=\"noopener noreferrer\">Contact us today,<\/a> we look forward to working with you!<br \/>\n&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In order to be approved for a new home purchase, potential homebuyers must work closely with their loan officer and provide a variety of documents&#8230;<\/p>\n","protected":false},"author":2,"featured_media":17664,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[87],"tags":[72,160,140],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.2.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Homebuying 101: Do&#039;s and Don\u00e2\u20ac\u2122ts During the Home Loan Process [Blog] | Hayden Homes<\/title>\n<meta name=\"description\" content=\"As you\u00e2\u20ac\u2122re getting your home loan documents together, or as you are waiting for a loan underwriter to approve your loan, there are a number of things that you can do to improve your chances of being approved. 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