{"id":5032,"date":"2023-06-22T15:42:58","date_gmt":"2023-06-22T15:42:58","guid":{"rendered":"https:\/\/baycoastmortgage.com\/?p=5032"},"modified":"2023-07-18T18:45:35","modified_gmt":"2023-07-18T18:45:35","slug":"know-the-dos-and-donts-of-the-pre-approval-process","status":"publish","type":"post","link":"https:\/\/baycoastmortgage.com\/en\/insights\/know-the-dos-and-donts-of-the-pre-approval-process\/","title":{"rendered":"Know the Do\u2019s and Don\u2019ts of the Pre-Approval Process"},"content":{"rendered":"<div class=\"lazyblock-resource-hero-ZExQeA wp-block-lazyblock-resource-hero\"><div class=\"noHero\" style=\"height: 10rem;\"><\/div>\n\n<div class=\"spacer\"><\/div>\n\n<div class=\"section\">\n\t<div class=\"smallWrapper gutenberg\">\n\t    \n\t    <div class=\"categories flex\" style=\"justify-content: flex-start;\">\n\t\t\t<div class=\"h6\" style=\"margin-right: 2rem;\"><a href=\"https:\/\/baycoastmortgage.com\/resource\/insights\">Insights<\/a><\/div>\n\t\t\t\t\t\t\n\t\t\t<div class=\"primaryColor dot h6\" style=\"transform: scale(2.2); \">\u00b7<\/div>\n\n\t\t\t<div class=\"h6\" style=\"margin-left: 2rem;\">\t\t\t\tJune 22, 2023        \n\t\t\t<\/div>\n\t\t<\/div>\n\t    \n\t    <h1 class=\"h2 blue bgWhite\" style=\"max-width: 50rem\">Know the Do\u2019s and Don\u2019ts of the Pre-Approval Process<\/h1>\n\t    \n\t    <hr style=\"margin-bottom: 7rem;\">\n\t  \n\t<\/div>\n\t\n\t<div class=\"wrapper\" style=\"justify-content: center; max-width: 90rem;\">\n\t\t<div style=\"width: 100%; position: relative;\">\n\t\t\t<img decoding=\"async\" data-src=\"https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2023\/06\/mortgage-.jpg\" role=\"img\" aria-label=\"Know the Do\u2019s and Don\u2019ts of the Pre-Approval Process\" style=\"--smush-placeholder-width: 1573px; --smush-placeholder-aspect-ratio: 1573\/920;width: 100%; height: auto;\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/>\n  \t\t<\/div>\n\t<\/div>\n<\/div>\n\n          <\/div>\n\n<div class=\"lazyblock-interior-content-27X0ma wp-block-lazyblock-interior-content\"><div class=\"spacer\"><\/div>\n\n<div class=\"section\">\n\t<div class=\"paddedWrapper\">\n\t\t<div class=\"wrapper flex gutenberg\" style=\"justify-content: center;\">\n\n\t\t\t\n\t\t\t<div class=\"smallWrapper gutenberg\">\n\n\t\t\t\t<div class=\"h3\">Here are the do\u2019s and don\u2019ts to keep in mind after receiving a mortgage pre-approval:<\/div>\n\n\t\t\t  \t<hr style=\"margin-bottom: 5rem;\">\n\n\t\t\t\t<!-- interior content -->\n\t\t\t\t\n\n<p>Congratulations on your mortgage pre-approval! Buying a home is a major milestone for many, and of course, you want the entire process to go as smoothly as possible.&nbsp; At BayCoast Mortgage, we are here to help you every step of the way.<\/p>\n\n\n\n<p>This is an exciting time, but even after obtaining a mortgage pre-approval, you still need to stay on top of your finances before closing on your new home.&nbsp; That\u2019s because even the smallest financial change, which may seem trivial, could have a negative impact on your creditworthiness and final mortgage approval.<\/p>\n\n\n\n<p>By continuing to make smart financial decisions, you may help avoid any missteps that could affect your homeownership dream.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">DO&#8230;<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Keep all originals and have access to all your paystubs, bank statements, and other critical financial documents.<\/li>\n\n\n\n<li>Make timely payments on all current debt obligations, such as car payments, student loans, and credit cards.<\/li>\n\n\n\n<li>Notify your loan officer prior to making any changes to your employment status, such as changes to your position, pay raises, or loss of income.<\/li>\n\n\n\n<li>Tell your loan officer if you plan on receiving gift funds for closing.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Don&#8217;t&#8230;<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Make any major purchases (such as a car) that could impact your credit score, required funds to close, or assets &#8211; especially if it requires getting another loan.<\/li>\n\n\n\n<li>Close or open any asset or credit accounts.<\/li>\n\n\n\n<li>Transfer any funds between your accounts without receiving the proper documentation.<\/li>\n\n\n\n<li>Deposit monies outside your payroll deposits, particularly from the sale of personal items, without proper documentation.<\/li>\n\n\n\n<li>Open or increase any liabilities during your contract.<\/li>\n\n\n\n<li>Advance cash from any credit cards or borrow any funds.<\/li>\n<\/ul>\n\n\n\n<p>As you can see, there are quite a few details to remember once you receive a mortgage pre-approval.&nbsp; Keeping track of your finances may help you avoid any missteps in the process, making your homebuying journey as stress-free as possible.<\/p>\n\n\n\n<p><strong>If you have any questions, please don\u2019t hesitate to contact us at 877-466-2678. We are here to help!<\/strong><\/p>\n\n\n\t\t\t<\/div>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n","protected":false},"excerpt":{"rendered":"<p>Even after obtaining a mortgage pre-approval, you still need to stay on top of your finances before closing on your new home.  <\/p>\n","protected":false},"author":9,"featured_media":5033,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2],"class_list":["post-5032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights"],"acf":[],"featured_image_urls_v2":{"full":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2023\/06\/mortgage-.jpg",1573,920,false],"thumbnail":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2023\/06\/mortgage--150x150.jpg",150,150,true],"medium":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2023\/06\/mortgage--300x175.jpg",300,175,true],"medium_large":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2023\/06\/mortgage--768x449.jpg",768,449,true],"large":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2023\/06\/mortgage--1024x599.jpg",1024,599,true],"1536x1536":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2023\/06\/mortgage--1536x898.jpg",1536,898,true],"2048x2048":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2023\/06\/mortgage-.jpg",1573,920,false],"gform-image-choice-sm":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2023\/06\/mortgage-.jpg",300,175,false],"gform-image-choice-md":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2023\/06\/mortgage-.jpg",400,234,false],"gform-image-choice-lg":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2023\/06\/mortgage-.jpg",600,351,false]},"post_excerpt_stackable_v2":"<p>Even after obtaining a mortgage pre-approval, you still need to stay on top of your finances before closing on your new home.  <\/p>\n","category_list_v2":"<a href=\"https:\/\/baycoastmortgage.com\/en\/.\/insights\/\" rel=\"category tag\">Insights<\/a>","author_info_v2":{"name":"Katheryn Nogueira","url":"https:\/\/baycoastmortgage.com\/en\/author\/knogueira\/"},"comments_num_v2":"0 comments","publishpress_future_action":{"enabled":false,"date":"2026-04-11 07:19:18","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/posts\/5032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/comments?post=5032"}],"version-history":[{"count":0,"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/posts\/5032\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/media\/5033"}],"wp:attachment":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/media?parent=5032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/categories?post=5032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}