This document provides tips for buying a home, including dos and don'ts for the mortgage application process. It advises paying off debts on time, keeping funds in accounts, providing documentation promptly, and factoring lifestyle needs into affordability estimates. Borrowers should avoid new debts or purchases, job changes, deposits without sources, and omitting or exaggerating application details. Contact the lender with any questions.

1. Picture yourself home.
Do’s of Buying a Home
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Ready to start looking for your dream home? Here are a few general things to keep in
mind as prepare for your big move.
• Do pay all your credit cards and any other debt on
time before you even start considering a mortgage.
• Do keep a positive balance in all of your checking and
savings accounts with sufficient funds to close a loan.
• Do keep your money right where it is. Changing banks
or moving money will require explanation, which will
just be more paperwork for you and your lender.
• Do provide any documentation your loan originator
asks for in a timely manner. It may seem like you
are handing over quite a bit of information, keep in
mind that you are asking the lender to trust you with
hundreds of thousands of dollars.
• Do factor in your lifestyle. A lender will give you a
range that includes the top end of how much home
you can afford. That number is based on your current
expenses, not the future.
Dont’s of Buying a Home
• Don’t buy a vehicle. Even if you are paying cash.
• Don’t quit your job.
• Don’t take on any new debt (even if the salesperson
offers you a 20% discount on your purchase).
• Don’t make out-of-the-ordinary large deposits. If
you must, be prepared to provide a clear paper trail
detailing where the money came from and why.
• Don’t buy big-ticket items on your credit cards. (We
can’t stress this enough.)
• Don’t omit or exaggerate information on your
application! (SERIOUSLY!)
• Don’t make sudden changes in your spending habits
(unless it’s to save more) or with your income.
Guidelines above are meant for suggestions only. Please speak to your financial advisor before buying a home.
EZ Online Mortgage – NMLS # 362311 located at 4804 Laurel Canyon Blvd #1199,ValleyVillage, CA 91607. www.nmlsconsumeraccess.org. Rates, fees and programs are subject to change without notice. Other
restrictions may apply. Information is intended solely for mortgage bankers, mortgage brokers, financial institutions and correspondent lenders. Not intended for distribution to consumers as defined by Section 1026.2
of Regulation Z, which implements theTruth-in-Lending Act. Licensed by the Department of Business Oversight, under the California Residential Mortgage Lending Act (01871814)
Questions? Contact us for more information.
William Martin, Broker, NMLS# 350185
wmartin@ezonlinemortgage.com
(626) 253-4400
www.ezonlinemortgage.com
NMLS# 362311
800-930-8195