Things To Consider Before Buying A Home

Documents Needed for Loan Applications

Dos & Don'ts

How Your Credit Score Is Derived

Keep Your Credit Clean

What To Expect At Closing

Moving Checklist

You need mortgage professionals you can trust. You need a company that values honesty and integrity throughout the entire organization. You need mortgage planning specialists who give you their best consistently. You need to find strength, stability and opportunity—especially now. You need Grand Avenue Realty & Lending!

When dealing with your home financing, we are not only working with one of your largest personal financial investments; we also are handling one of your biggest dreams. Since we work with matters so close to the heart, we serve you from ours.

Grand Avenue Realty & Lending can meet you where you are and help you where you are going. Let us provide you a mortgage without obstacles.

  • DO bring a cashier’s check made payable to the title company for the amount of your closing costs.

  • DO alert us if your salary or other compensation changes from what is documented on your loan application.

  • DO notify us if your address changes from what appears on your original loan application. We will complete rental and mortgage verification for all of your residences within the last two years.

  • DO acquire homeowner's insurance with minimum coverage equal to the amount of your total loan or the replacement value of the house. DO share the agent’s name and phone number with your Grand Avenue Realty & Lending Loan Officer at least 10 days prior to closing.

  • DO keep documentation on any large and significant deposits into your bank accounts. This type of "paper trail" is compiled of copies of all paperwork necessary to prove a financial transaction: copies of all checks, deposit slips, loan paperwork, forms to liquidate assets, etc.

  • DO report if you transfer funds from one account to another. Provide records on such transactions.

  • DO verify that you have a clear termite inspection on the property. If the termite report is not clear, provide a receipt for treatment that shows the chemicals and the amount used for treatment.

  • DON'T acquire any additional lines of credit or make any large purchases on existing credit without first consulting your Grand Avenue Realty & Lending Loan Officer. As examples, purchasing a car or buying major appliances for your new home will negatively change your debt-to-income ratios.

  • DON'T change jobs without consulting us. A change in compensation could affect your ability to qualify. Borrowers must have a two-year history of bonuses and/or commissions to be counted as income. As a quality control check, lenders may verify employment on the day of closing.

  • DON'T co-sign with anyone to obtain a line of credit or make a purchase. The payment will show up on your credit report as an additional debt.

  • DON'T negotiate your contract with an allowance and expect to get money back at closing. An allowance can be used to pay closing costs and/or prepaids.
If you are uncertain about what to do at any point of the loan process, please contact your Grand Avenue Realty & Lending Loan Officer for more information.


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