Mortgage Resources

Call (512) 710-1400 or email

Mortgage Dos and Don’ts

Important Tips for Closing Your Mortgage

Dos and Donts of MortgageThe following Austin mortgage “Dos” and “Don’ts” are essential to closing your loan on-time, without problems. Please read carefully and call today to discuss your home financing: (512) 710-1400 or email If another lender has you in a bind, Leaman Team can fix the situation quickly.

DO the following actions to ensure a smooth mortgage:

  • DO notify Leaman Team if your address changes from what appears on your loan application. As part of the loan process, Leaman Team will complete a rental and mortgage verification for all of your residences within the last two years.
  • DO alert Leaman Team immediately if your salary or your co-borrower’s salary (or other compensation) changes from what is documented on your original loan application.
  • DO keep documentation for all significant deposits to your bank accounts. Leaman Team will compile a copy of this”paper trail” with all necessary paperwork to prove a financial transaction: copies of all checks, loan paperwork, deposit slips, & forms to liquidate assets.
  • DO report if you transfer funds from one bank account to another. Provide Leaman Team records for any such transfers.
  • DO acquire homeowner’s insurance with minimum coverage equal to the amount of your total mortgage amount or the replacement value of the house.
  • DO share your homeowner’s insurance agent’s name and phone number with Leaman Team at least 10 days before closing.
  • DO verify that you have a clear termite inspection on the property being purchased. If the termite report is not clear, provide Leaman Team a receipt for treatment showing the chemicals and the amount used for treatment.

DON’T do the following actions to ensure a smooth mortgage:

  • DON’T make any large purchases on existing credit without first consulting Leaman Team.
  • DON’T acquire any additional lines of credit. For example, avoid purchasing a car or buying major appliances; these purchases will negatively impact your debt-to-income ratios and could disrupt your mortgage transaction.
  • DON’T change jobs without consulting Leaman Team. Changes in compensation could affect your ability to qualify.
  • DON’T co-sign for another person in order to obtain a line of credit or make a purchase. As a co-signer, this payment will show up on your credit report as an additional debt.

Please call Leaman Team today to discuss your home financing: (512) 710-1400 or email