5 “Super Bowl Touchdowns” you can make as a Mortgage Customer

1. Document Your Transactions.

When applying for a mortgage you will be asked to explain any uncommon deposits to your accounts. Yes, that includes all of the Christmas money you got from relatives. Any unexplained deposits could affect your closing. An easy solution is to save the bank receipts after each deposit, and avoid depositing cash when possible. Having a well explained account history will have both you and your Loan originator dancing in the mortgage end zone.

2. Keep Your Credit Line Steady During The Mortgage Process.

While it may be common knowledge to improve your credit score before applying for a mortgage, few know the importance of maintaining the score in the midst of the process. This means to avoid making any big purchases with credit, during the approval period. The last thing you want is to delay your closing date, or change your mortgage rate. Our advice: tighten up your budget and only pay with cash or debit during the loan process. This will help avoid any financial tackles and at least set you up for a field goal.

3. Have Your Documents Ready Before You Start.

Much like stretching before the game, having your documents ready before the mortgage process is vital to a healthy loan. Not only will you be ready to start, but you will be well versed on what it takes to get a mortgage and obtain the home of your dreams. Don’t blow out your mortgage hammy! We need you for all four quarters!

4. Determine Your Budget.

The best type of “Super Bowl Touchdown” a mortgage customer can make is to know how much, he or she can spend before starting. Determining a budget will help customers plan ahead and be ready for the closing. The last thing you need is a budget fumble at the 10 yard line with 30 seconds to go in the fourth quarter… and you’re down by 2!

5. Get Pre-Approved Before You Shop

The pre-approval process is like the league championship series (sorry Pats fans); you need to win this game before you get to the Super Bowl. Once this challenge is cleared, you’re free to shop, and start prepping for the final showdown. Nothing is better than going to the Super Bowl with a clear head and confidence in your team. Team McCue Mortgage, that is!