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Dos & Don’ts during the Home Loan Process

You’ve decided you are ready to be a homeowner, but most first-time buyers have many questions and the home loan process can seem confusing. Working with a REALTOR can help make the home buying process more clear and they will be there to answer your questions or address concerns. Also, your REALTOR has a network of professionals that they work with regularly and can refer you to the right people from the beginning of the loan process to reaching the closing table.

We’ve put together this list of dos and don’ts to help guide you during the loan process.

Do gather your income and current debt documentation. This will help your loan officer decide the price range that best fits your financial situation.

Do  meet with an experienced loan officer early in the process to review your credit history and determine home loan options.

Do get pre-approved. It will help you identify homes in the right price range and helps provide assurance to sellers that you are serious about buying.

Do continue paying all current debts on time.

Don’t apply for new credits or loans or allow others to pull your credit.

Don’t transfer funds from one bank account to another or make any unusual deposits.

Don’t change banks or create negative balances or overdrafts on your current accounts.

Don’t change employers.

Don’t change your current financial or debt situation…this can negatively affect your home loan approval.

Do talk to insurance agents after your find a home to get a quote on the property.

Do enjoy yourselves! Buying a home is one of the biggest decisions you will make and choosing the right REALTOR can help make the process less stressful.


We know some great local loan officers that can help determine the best home loan for you. Contact one of our agents to help you start the home buying process in Abingdon, Bristol and the surrounding Southwest Virginia/Northeast Tennessee region.

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