From application to closing, the lender may re-check your credit, income, job and bank accounts. These tips apply whether you're buying or refinancing a home in Florida, or financing an investment property or commercial deal in another state where permitted. For business-purpose loans, the same ideas apply to your business accounts and entity, too.
Do
Keep paying every bill on time
Why it matters: Mortgage, rent, car, student loans, credit cards, all of it. Lenders often re-check credit before closing, and one late payment can drop your score and change your approval or pricing. Set up autopay if you can.
Keep your documents handy
Why it matters: Pay stubs, bank statements, tax returns, ID and, for investor or commercial loans, leases and entity paperwork. Underwriters often ask for updated versions as the file moves, so keep the newest copies where you can find them.
Answer requests fast
Why it matters: When I or the processor ask for something, a same-day or next-day reply keeps your file moving. Most delays come from waiting on a document, and closing dates and rate locks have deadlines.
Stay at the same job if you can
Why it matters: Lenders usually re-confirm employment shortly before closing. A new job, a switch to commission or self-employment, or a gap in work can change how your income is counted.
Document any large deposit
Why it matters: Anything that isn't your regular paycheck (a bonus, a tax refund, a sale, a transfer from family) may need a paper trail: where it came from and how it got to your account. Keep the receipts and the gift letter if it's a gift.
Keep your insurance active
Why it matters: Line up homeowners (or HO-6 for a condo, or landlord or commercial coverage for an investment) early and keep it paid. If you're refinancing, don't let your current policy lapse. The loan can't close without proof of coverage.
Leave your closing funds in place
Why it matters: The down payment and closing money the lender already verified should stay in the accounts it was verified in until closing day. If you need to move it, ask first so we can document it.
Tell me about any change
Why it matters: A new address, marriage or divorce, a new debt, a change in pay or hours, a large expense coming up: let me know right away. Most changes can be handled when we know early. Surprises at the final review are what cause trouble.
Don't
Don't open new credit or finance anything
Why it matters: No new cards, car loans, furniture or appliance financing, or buy-now-pay-later plans. New debt can raise your debt-to-income ratio, and new credit checks can lower your score. Wait until after closing, and ask me even then.
Don't close credit accounts
Why it matters: Closing a card can shorten your credit history and raise your utilization, which can lower your score. Leave accounts open and paid as agreed unless I've asked you to pay one off.
Don't make large cash deposits
Why it matters: Cash is hard to trace, and money a lender can't source may not be counted toward your down payment or closing costs. If you have cash you plan to use, talk to me before you deposit it.
Don't change jobs without calling me first
Why it matters: Even a better-paying job can mean new pay stubs, a probation period or a different way of counting income. If a change is coming, call me before you accept so we can plan around it.
Don't co-sign for anyone
Why it matters: Co-signing makes you responsible for that debt, so it usually counts against your debt-to-income ratio, and it adds a new account to your credit. Wait until after closing.
Don't move money around without a paper trail
Why it matters: Shifting money between accounts, banks or business and personal accounts can mean extra statements and letters to explain it. Keep transfers to a minimum and keep the records for any you make.
Don't make big purchases
Why it matters: A car, furniture for the new place, a big trip: spending your reserves or adding a payment can change what you qualify for, even after you've been approved. Buy the couch after you have the keys.
Don't miss or pay late on anything
Why it matters: That includes your current rent or mortgage, utilities in collections and small accounts you forget about. One 30-day late payment can show up on a refreshed credit report before closing.
When in doubt, call before you swipe
Thinking about a new card, a car, a job change or moving money? A two-minute call before you do it is much easier than fixing it after. Every loan and program is different, so ask me about your file.
Questions? Call or text Kareme Shorter at (954) 913-7865 · callkareme.com
Next steps
General information, not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, property eligibility and program availability. Requirements vary by lender and loan program.
Kareme Shorter, Mortgage Loan Originator, NMLS #1722684 · Ascension Mortgage, Company NMLS #2511500 · Equal Housing Opportunity. Residential mortgage loans are offered in Florida only. Commercial and non-QM business-purpose (investor) financing may be available in other states where permitted; licensing varies by state. Verify licensing at nmlsconsumeraccess.org.