purchasing a washer and dryer on credit or buying a new car. Garrett agrees, “buyers should also not open any new lines of credit or deposit cash into their bank accounts. You should write a check for any earnest money required. Trying to source cash can slow down the approval process”. If you wonder “should I do this?”, talk to your lender first. Once you find a home and are officially under contract, there will be flurry of activity and then a waiting period. One of the most important things a buyer can do is to get information that the lender requests submitted as quickly as possible. Buyers should be sure to send official documents. Shannon says “please send your whole bank statements and official pay stubs. Underwriters won’t accept screen shots or documents with black sharpie lined through parts”. During the underwriting process, the lender is making sure that loaning you the amount of money you have requested is a sound business decision. They will be evaluating you as a borrower and also make sure that the home is worth the amount of the loan. There will be an appraisal ordered and performed. Buyers should expect to pay Meet OUR LOAN Specialists Shannon Katz Loan Consultant NMLS# 1170312 108 Byrd Way, #200 Warner Robins, Georgia 31088 https://www.loanDepot.com/skatz (478) 419-7111 office (478) 244-5513 cell (833) 319-0566 fax skatz@loandepot.com 30

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