payment may be less than the borrower is currently paying, arranging a consolidation loan while in the mortgage underwriting period can affect the borrower’s credit rating, putting potential obstacles in the way of a smooth approval. 10. Don't Lose Sight of Your Documents Often, buyers are eager to pack and begin storing items in preparation for the big move. In packing the house, they place all financial documents inside of a box and then quickly lose track of it in the chaos. Before you start moving, store your financial documents separately, and make sure you have access to them all the way through the loan process. Don’t do anything with that paperwork until you’ve closed the deal, the loan is funded, and you are holding the keys.
46
Powered by FlippingBook