The DO list
Do gather your documents early
Two years of W-2s, two years of tax returns, two months of bank statements (all accounts), recent pay stubs, ID, a copy of any divorce decree or child support order. Self-employed: business returns and a P&L. Having these ready cuts a week off the timeline.
Do tell your loan officer about everything
Old collections, recent disputes, gifts of money you're expecting, bonus income, second jobs, side businesses, real estate you co-own. We've seen all of it. Surprises in underwriting are far worse than disclosures upfront.
Do shop multiple lenders
Rate isn't the only thing that varies. Lender fees, underwriting style, communication quality, and program fit all differ. Get 2–3 Loan Estimates and compare line-by-line.
Do respond to underwriting conditions fast
Each round of conditions is a cycle. The faster you upload requested documents, the faster the loan moves. Same-day responses can shave 1–2 weeks off the close.
Do keep paying everything on time
Underwriters re-pull credit late in the process. A 30-day late payment can sink a clear-to-close.
Do save for closing
Even with seller concessions and lender credits, plan for 5–8% of purchase price in cash to close. Have it in your account 60+ days before applying — "sourcing and seasoning" rules require funds to be documented.
The DON'T list
Don't open new credit
No car loans, no new credit cards, no store financing, no buy-now-pay-later. Each inquiry shaves a few points and signals additional debt. Wait until after closing.
Don't close existing credit cards
This sounds counterintuitive but closing accounts hurts your utilization ratio and average account age. Just stop using them — leave them open with zero balance.
Don't make large unexplained deposits
Any deposit over a few hundred dollars that isn't a paycheck will need documentation ("sourcing"). If you must, get a paper trail — keep the receipt or transfer log. Cash deposits are particularly hard to source.
Don't change jobs if you can avoid it
Lenders verify employment late in the process — sometimes the day of closing. A job change between application and closing requires re-verification and can delay or kill the loan, especially if compensation structure (W-2 to 1099, salary to commission) shifts.
Don't buy or sell large assets
Selling a car, transferring stock, moving large balances between accounts — all create paper trail issues. Wait until after closing.
Don't apply for credit pulls outside the mortgage
Even checking your own credit at lots of services adds inquiries. Stick to soft pulls (most banking apps, AnnualCreditReport.com) until after closing.
Don't co-sign for someone
Co-signing adds the cosigner's debt to your DTI and ties their payment behavior to your credit. Bad timing during a mortgage application.
Don't ignore communications from your lender
Underwriting often surfaces small questions that need 24-hour responses. Letting a request sit for a week can blow up the timeline. Check email, voicemail, and your lender's portal daily.
If something does change
Tell your loan officer immediately. New job, large windfall, unexpected expense, credit hit — we'd rather hear about it from you Monday morning than discover it Friday at closing. Many things can be worked around if we know about them.
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