This is a YouTube video titled "Beginning the Process" containing a monologue or informational talk from March 4, 2022, providing guidance on important considerations during the home loan application process, such as managing purchases, credit, and communication with the loan team. There is only one speaker providing advice and no indication of a conversation involving Derek McGowan.
We are excited to start the next steps in your home loan journey. Here are a few things to keep in mind during the process. Large Purchases if you need to purchase things like appliances, be sure to let our team know first so we can see if that will have an impact on your home loan. We're on your side. Communication is key right now. Major life changes, especially job changes. Please give us a heads up if there are any plans for things changing. This allows us to form a plan to help your financing. New Credit New credit cards can have a negative impact on your credit score. You don't want that right now. Random deposits, especially cash deposits into your bank account need to be documented properly. If you have plans to use cash for the down payment, please let us know so we can properly document late payments. Your credit's already been checked, but underwriting does get notified if there are late pays during the loan process. Come to us with any questions. We're always here to help. Talk to you soon.
