The Do's & Don'ts When Applying For A Home Loan


DON'T Apply for New Credit

Changes in credit can cause delays, change the terms of your financing or even prevent closing. If you must open a new account (or even borrow against retirement funds) please consult with an real estate agent and a lending service first.

DON’T change jobs during the process

Probationary periods, career or even status changes (such as from a salaried to a commissioned position, leave of absence or new bonus structure) can be subject to very strict rules

DON’T Make Undocumented Deposits

Primarily large but sometimes even small deposits must be sourced unless they are identified. Make copies of checks and deposit slips. Keep your deposits separate and small. Avoid depositing cash.

DON’T wait to liquidate funds from stock or retirement accounts

If you need to sell investments, do it now and document the transaction. Don’t take the risk that the market could move against you leaving you short of funds to close.

DON’T ever be afraid to ask questions

If you are uncertain about what you need or what you should do, We are here to help you through the process, even long before you intend to buy


DO Keep All Records In Good Order

DO Availability

Keep Your financial records close at hand in case updates are required

DO income

Be aware that underwriters typically verify your income and tax documents through your employer(s), CPS, and/or IRS tax transcripts. Hold onto new pay stubs as received.


Continue saving incoming account statements. Keep all numbered pages of each statement. Ex. 8 of 8

DO Gifts

If you’re receiving any gift money from relatives, they’ll need to sign a gift letter and an account statement evidencing the source, which must be “seasoned” funds.

DO keep your credit shining

Continue making payments on time. Your credit report may be pulled again, and any negative change to your score could cause you to lose your approval and your home.

DO Current Residence

If you are renting, continue paying your rent on time and save proof of payment. If you are selling your current residence, be prepared to show your Closing Disclosure. If you will be renting your home you may need to show sufficient equity a lease and receipt of the first month’s rent and security deposit.

DO Understand that things have changed

Underwriters require more documentation that in the past. Even if requests seem silly, intrusive or unnecessary, please remember that if they didn’t need it, they wouldn’t ask.

If you are uncertain about anything in the home buying process, we are here to answer any questions you may have and guide you on the right path of your home purchasing journey.

Tom & Darlene Trieste

Broker & Broker Associate

Office: 727-799-2200

Cell: 727-804-4887 / 727-542-6631

Visit our agent's page to select an agent to work with

#realestate #renaissancerealestate #safetyharbor #homeloan #housebuying


First Time Home Buyers

Qualifying to earn First Time Home Buyer benefits is easier than most think...

Search Properties

Receive a custom search directly from one of our agents and be notified when properties become available on market.

List Your Property

Speak with an agent directly to learn about the market and answer any question you may have


Schedule an appointment with a real estate professional to discuss your real estate needs so we may assist you in setting
an action plan

join our company

Now looking for both new and experienced licensed real estate agents to work with our team.

Equal Opportunity Housing Disclosure
Renaissance Real Estate does business in accordance to the Federal Fair Housing Law. It is illegal to search for or list property with discrimination against any person because of race, color, religion, sex, handicap, familial status, or national origin. By filling out this form, the customer(s) hereby understand that both Renaissance Real Estate and the customer(s) cannot request or provide such information when searching on behalf of the customer.

© 2019 Renaissance Real Estate