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10 Things to Do to make sure your loan gets denied!

  1. Forget to mention that you just bought a new car or stereo system.
  2. Forget to mention that you have to pay child support or alimony.
  3. Forget to mention that you will be going on maternity leave during the escrow.
  4. Forget to mention that the money you are using for the down payment and closing costs are coming from a gift from family and there is not way to document it.
  5. Forget to mention that one of the borrowers (husband/wife) hasnt recieved green card yet, or greencard is expiring.
  6. Forget to mention that the borrower is married (applied as single man/woman), and let the lender discover it when you sign loan papers.
  7. Have the money needed to close escrow come from the sale of another property that hasnt closed yet, and you need to close this escrow first.
  8. Apply on line with one of these online companies and have your credit report run 10 times in a row, guaranteed to change your fico scores to qualify.
  9. Create your own paystub, bank statement or w-2, tax return.
  10. When the lender audits your loan file before coe by calling your employer to verify your employment, make sure you have quit or are on unpaid leave.

Posted Wednesday Oct 21