Educational Material

6 Things Not to Do

​When lenders review your application, they like to see consistency in your finances. 

  • Do not make major purchases like furniture, appliances, jewelry, vehicles or vacations

  • Don't change or quit your job

  • Consult with your mortgage professional before withdrawing, depositing or moving large amounts of money in or out of your bank account

  • Do not pay off debts or collections (unless instructed to do so by a mortgage professional)

  • Avoid using cash for a good-faith deposit - cash is difficult to verify and could result in a closing delay

  • Don't have your credit report pulled too many times - this can hurt your credit score

How Much House Can You Afford?

Before you start shopping for a new home, determine how much you can afford to spend.

  • Here are a few things to consider:

  • Your monthly income

  • Your available funds for down payment

  • Your monthly expenses

  • Your credit score

Tips for Smooth Process

Here are a few tips to help your loan process go quickly and smoothly:

  1. Make sure your credit is in good shape

    • Excellent Credit: 750+​

    • Good Credit: 700-749

    • Fair Credit: 650-699

    • Poor Credit: 649 or less

  2. If you're renting, pay by check

    • Having documented prof of your last 12 months of payments is often required by the lender​

  3. Obtain proof of employment for the past 2-years

    • W2s and tax returns​

    • Paystubs covering 30 days

    • Be prepared to explain any gaps in employment

  4. Avoid large deposits or withdrawals from your bank account

  5. Determine a down payment amount based on your available funds

  6. Obtain a pre-approval letter from a Independent Mortgage Professional

  7. Research a local real estate agent


HOME HARBOR FINANCIAL, LLC (HHF - 1178616 NMLS) strives for compliance with all applicable state and federal regulations pertaining to mortgage lending, advertising, and marketing including but not limited to all federal regulations set forth in title 12 of the Code of Federal Regulations, and the guidelines promulgated and/or enforced by the U.S. Department of Housing and Urban Development, The Consumer Financial Protection Bureau, and the Federal Trade Commission. HHF is not affiliated with any government agency.  All applications are subject to underwriting guidelines and approval. This does not constitute an offer to lend. Not all applicants will qualify for all loan products offered.  All loan programs, terms and interest rates are subject to change without notice.  All fees are subject to state and federal high cost thresholds.