Being knowledgeable about the mortgage process can reduce stress. Check out available resources and connect with Mortgage Lenders for further assistance.
The Basics
Here is a list of things that could have an adverse effect of getting approved for a Mortgage loan:
- Changing jobs, becoming self-employed, or quitting your job.
- Buying a vehicle.
- Charging cards excessively or letting your accounts fall behind.
- Spending money you have set aside for closing.
- Intentionally omitting information from the loan application.
- Buying furniture or making other large purchases on credit.
- Initiating any inquiries into your credit.
- Making large deposits.
- Changing bank accounts.
- Co-signing a loan for anyone.
Be sure to talk to your Loan Officer if any of these scenarios may apply to you, so you may be aware of how it may impact your loan.
Credit Tools
Credit Karma is our recommended website for free credit score monitoring and scenario simulator tools. While scores may differ from actual mortgage lender scoring, it is a useful tool to get started in checking your credit report.
myFICO.com is another resource that can be used to monitor your credit. This tool is a paid subscription service but comes with additional features, such as identity theft monitoring.
Forms and Documents
The following documents may be necessary when applying for a home loan with CNB. Feel free to download copies of the forms and fill them out electronically (when applicable) or by hand. If you don’t have a printer, not to worry - visit any branch for copies of the paperwork you need.