Ross Mortgage Company, Inc.


Call Us Today! 1.888.986.0060

What Not to do During Your Home Search

Now that you’ve been prequalified to buy a home, here are some important things you need to know:

  • 1 - Don’t change jobs or careers during the process.  Depending on how you’re paid, changing jobs could bring the whole process to a screeching halt.  If you’re suddenly offered a chance at your dream job, the best thing to do is to call your loan officer and discuss the potential change. We’ll let you know what effect the change will have on your ability to finance the purchase of a home and then it will be up to you to decide what’s more important, the job or buying a house.
  • 2 - Do not deposit large sums of money if you can’t document the source. A cash gift from a relative or cash from any source can’t be documented.  If you have a relative that wants to give you a gift to help with the down payment talk to your loan officer and they’ll explain how to document the transfer of funds as well as reviewing any other required paperwork. Also, avoid moving money around between your accounts unless it’s absolutely necessary.  We’ll need to document the transfers between different banks.
  • 3 - Make sure you keep paying your bills on time, don’t make any major purchases, don’t run up the balances on your credit cards and don’t apply for or open any new accounts. If something comes up and you need to make a major purchase or open new credit lines, call your loan officer to discuss.

We want the home buying process to be a stress free as possible.  One of the ways we accomplish this goal is by making sure you’re well informed so you can avoid the pitfalls that can come up during the process.  If anything else comes up, call your loan officer to discuss before making the decision.  That way you’ll know if it will cause any issues during the process.

Good luck with your house hunting!!!