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Do's and Don'ts of Home-buying

Consult your loan officer before you make any decisions involving your credit during this escrow period. We are always available to help.


  • Contact your insurance agent early in the process and inform them of your new home purchase.

  • Promptly provide all documents (ALL PAGES) requested by your loan officer and processor to speed up your closing.

  • Make sure your employment asset and personal information are correct on your loan application.

  • Be prepared to explain/account for all non-payroll deposits into each account you intend to use toward your transaction.

  • Respond to any requests for information from your loan officer as soon as possible.

  • Continue to make all payments on time.


  • Apply for any new credit of ANY kind. DO NOT finance anything.

  • Make large deposits into your bank account. Your down payment should be seasoned (sitting in your account for at least two months).

  • Have any inquiries made on your credit report. This raises red flags to the Underwriters. Don't co-sign on another person's loan or change your name or address.

  • Make changes with your employment or income.


  • Spend your down payment.

Ask for help if you need to or have questions. Penny Lane Financial is here to guide you along the way with mortgages and more.


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