Important Reminders While Your Loan is in Process:

  • Your pre-qualification is based on the information you provided at the date of application.Inaccurate or estimated information can affect your loan approval.

  • At the time of application, the property type you are looking for will need to be determined as certain property types vary in their down payment, qualifying and guidelines.I.E.2nd home, apartment building, log home, manufactured homes, etc. Inform your loan officer what type of property you are interested in.

  • The sooner you provide all the requested documents, the sooner the underwriter can give you an answer on whether the loan is pre-approved which is still pending any appraisal, title or documents that are requested throughout the loan process.

  • It is wise not to purchase any items that may appear on your credit after you have applied for a loan.New debt may affect your mortgage approval.

  • Your credit is pulled at the time of application.Your qualifying scores will need to be maintained as the bank may in some circumstances have to re-pull your scores.

  • Make all of your payments on time.Payment delinquencies can affect approval after your initial application.

  • Be sure to maintain employment throughout the approval process.Verification of your employment will be obtained prior to your loan closing.

  • Any income and or asset documents, if needed in qualifying you for a home loan, will need to maintain the same balance as the initial application.

  • Please notify your loan officer immediately with any changes or updates on any of the above items to ensure a smooth closing on your home!

Tim Schuck

Broker Mobile: 207-356-1211

NextHome Experience

57 Washington Street
Bangor, ME 04401