General Do’s and Don’ts when applying for a construction loan

Do:
  • Stay in your home
  • Pay your bills, especially your mortgage, on time
  • Use your Credit Cards as normal, keep balances low
  • Stay employed
Don’t
  • Start projects on home prior to approval
  • Apply for any new credit – loans or credit cards
  • Make a major purchase
  • Consolidate credit cards
  • Move money between banks accounts
  • Take in large deposits

Do:

  • Stay in your home
  • Pay your bills, especially your mortgage, on time
  • Use your Credit Cards as normal, keep balances low
  • Stay employed

Don’t

  • Start projects on home prior to approval
  • Apply for any new credit – loans or credit cards
  • Make a major purchase
  • Consolidate credit cards
  • Move money between banks accounts
  • Take in large deposits
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