| Diane Rifai
Rely on Rifai!

Diane Rifai
Loan Officer | NMLS 204318

Office: 281.296.1807
Cell: 713.304.2660
Fax: 713.439.9533

drifai@houseloan.com

Branch NMLS 281026
1450 Lake Robbins Dr., Ste. 360
Woodlands, Texas 77380

"The Don'ts" of Getting a Loan

To help you keep your loan on track, we've put together this handy list! Based on our years of experience, these are the main things to avoid during the financing process.

ALWAYS check with your loan officer before making any changes in lifestyle, debt, or assets. Applying for a loan is just the first step of the process, and your loan is a "Work in progress" all the way to the closing table. So choose your loan officer well - and follow their guidance!

EMPLOYMENT


  • Do not change jobs - We verify your employment again on the day of closing.
  • Don't change your pay structure (e.g. going from hourly to commission) - We may need additional pay stubs prior to closing and change in type of pay could disqualify you for the loan.

CREDIT


  • Don't apply for new credit - We will pull credit again before closing, and all inquiries will have to be explained and verified that no new debt exists.
  • Don't dispute any items on your credit.
  • Don't charge up your credit cards "getting ready for the new house" - An increased debt ratio may disqualify you for the loan.
  • Don't skip payments on your current bills to "save up for the house" - Especially not rent payments.

ASSETS


  • Don't deposit sums into your bank account that cannot be documented. Repayment of personal loans, side jobs, birthday cash, sale of assets -- all must have a paper trail. Check with your loan officer before depositing any funds that are not payroll.
  • Don't assume that once you have loan approval you can go on a spending spree - We may need to verify funds again prior to closing.
  • Don't put gift funds into your account before checking with your loan officer - There is a procedure that has to be followed on all gift funds.

OTHER


  • Don't change your marital status prior to closing.
  • Don't let your driver's license expire - The title company requires valid current identification.
  • Don't make application for loans on other properties - We check a system called MERS prior to closing which identifies new loans you have applied for.

When in doubt, call me!


Diane Rifai
NMLS 204318

Cornerstone Home Lending, Inc.
Email: drifai@houseloan.com
Website: www.DianeRifai.com
Direct line: 281.296.1907


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