Lending Process Dos and Don’ts

Here’s a video listing the DO and DON’T steps to follow in the process of getting a mortgage loan.

To ensure you won’t fall victim to loan fraud, make sure you follow all of these steps in the process of applying for a loan.

DO:

  • Be honest about residency; if you’re not going to live in the house, say so.
  • Be clear and honest about any questions related to your credit history.
  • Report your finances — debt, income and everything else — accurately.

Do NOT:

  • List fake co-borrowers
  • Change tax return figures
  • Overstate assets or valuations
  • Fudge employment records
  • Provide incorrect files to answer questions
  • Exaggerate income or investments
  • Buy property for someone else.

Of course, do not sign ANY blank documents, and be sure you have read and understood anything that you do sign.  And DO keep your own records of everything.

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