Securing mortgage approval amidst the labyrinth of homeownership demands meticulous attention to paperwork, financial assessments and lender scrutiny. But, fear not! By sticking to some essential do's and don'ts, you can streamline the process and navigate toward success. Whether you're a first-time buyer or a seasoned homeowner, mastering these principles will empower you to confidently traverse the path to homeownership.

Do's:

Do check your credit report. Obtain a copy of your credit report from all three major credit bureaus and review them for accuracy. Address any errors or discrepancies before applying for a loan.

Do stay current on your bills. Maintain a good payment history on all your existing debts and bills. Late payments or defaults can negatively impact your credit score and mortgage approval chances.

Do keep your financial situation stable. Avoid making major financial changes during the loan approval process, such as changing jobs, taking on new debt or making large purchases.

Do communicate openly with your lender. Stay in regular contact with your lender and respond promptly to any requests for additional information or documentation. Clear communication can help prevent delays and ensure a smooth approval process.

Do ask questions. Don't hesitate to ask your lender or mortgage broker questions if you don't understand something about the loan terms, process, or requirements.

Don’ts:

Don't make large purchases or open new credit accounts. Avoid making significant purchases or opening new credit accounts during the loan approval process, as this can increase your debt-to-income ratio and impact your credit score.

Don't change jobs or income sources. Changing jobs or sources of income during the loan approval process can disrupt your financial stability and raise concerns for lenders.

Don't co-sign loans for others. Co-signing a loan for someone else can increase your debt obligations and impact your ability to qualify for a mortgage.

Don't ignore lender requests. Respond promptly to any requests for additional information or documentation from your lender. Ignoring or delaying lender requests can lead to delays in the approval process.

If you are searching for a new home, San Joaquin Valley Homes is still busy building homes throughout the Central Valley. Our model homes are open daily and virtual tours are available on our website for your convenience. Our models are open daily. Visit www.sjvhomes.com for more information.