Thank you for choosing Ultra Realty, Inc for your new home. Our first goal is to get you approved as quickly as possible. To get you approved, you will need to begin collecting various documents that are required to purchase a home.  We have put together some helpful tips while preparing for your mortgage loan and meeting with your mortgage representative.

• DO NOT take on any new debt: There are so many big purchases that you want to make in connection with your move: appliances, window treatments, furniture, and vehicles. You may change your debt ratio, which could potentially disqualify you for your loan. Talk to your mortgage representative before incurring any new debt.
• Do NOT allow anyone to pull your credit: Credit inquiries can lower your FICO scores and cause concern to the investors who will finance your home. A lower FICO score could possibly disqualify you for the mortgage on your home.
• DO NOT change jobs: Do not make a career change during the time between purchasing and closing on your home.
• DO NOT cause overdrafts on your bank accounts or spend the funds that you need to close your loan: Maintaining adequate balances in your accounts always is mandatory to avoid overdrafts. Lenders could view and overdraft in your account the same as a late payment on a credit obligation. When bringing funds to a closing they must be in the form of a cashiers check or wire. Personal checks will not be accepted.
• Pay all your bills on time: It is critical that you do not become late on your credit obligations with any of your bills or rent during the loan process.
• DO NOT buy anything with a deferred payment. Just because a payment will not be due for 12 months does not mean that the account will not show up on your credit. We will have to calculate a payment and include it in the ratio calculations which may mean you no longer qualify for your dream home.
• DO NOT give notice to your landlord of your intent to move until you are under contract and have been fully approved and notified by your mortgage representative.

Any questions regarding your new home should be directed to your Agent at Ultra Realty, Inc. We look forward to working with you!