4 - Must Do!
MUST DO!
While you are working toward purchasing a new home there are many things that can adversely affect your financing. It is important to stay in touch with your loan officer and to CALL us if you wish to make any changes to your financial standing. The following are a few suggestions to keep in mind:
DO CONTACT YOUR LOAN REPRESENTATIVE
Call with any questions regarding financial decisions.
DO STAY CURRENT WITH ALL EXITSTING ACCOUNTS.
Late credit, rent, utility, or car payments can drop your credit score 25-75 points. This could cost your ability to qualify for the loan and rate that you are initially qualified.
DO CONTACT YOUR EMPLOYERS’ HR DEPARTMENT
Contact to let them know that they will be receiving a verification of employment request from your lender.
DO VERIFY YOUR CASH TO CLOSE.
Documentation will be required showing where these funds are coming. All funds if not direct deposited into your accounts may require verification of source. Gift funds require additional documentation from the lender prior to depositing.
DO PROMPTLY RETURN ALL DOCUMENTATION.
Documentation requests from your lender, title company, and REALTOR are time sensitive, must be dated and return quickly.
DO DOCUMENT ALL FUNDS
Funds such as earnest money deposit and appraisal, paid outside of the closing. These will require proof of where funds cleared, such as bank statement showing fee clearing or copy of certified funds receipt.
DO SETUP YOUR HOMEOWNERS’ INSURANCE POLICY.
Homeowners’ Insurance Policy must be setup prior to closing. It is important to provide this information to your closing company.
All or a portion of the multiple listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of listings and each individual listing are ©2026 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.
All MLS listings are © 2026 Central Virginia Regional Multiple Listing Service, LLC. All
Charlottesville Area Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
© BRIGHT, All Rights Reserved
All or a portion of the multiple listing information is provided by the Williamsburg Multiple Listing Service, LLC, from a copyrighted compilation of listings. All WMLS information provided is deemed reliable but is not guaranteed accurate. The compilation of listings and each individual listing are ©2026 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.
All MLS listings are © 2026 Williamsburg Multiple Listing Service, LLC. All rights reserved. No one may copy and/or repost these MLS listings, or any portion thereof, without the written permission of an authorized officer of the Williamsburg Multiple Listing Service, LLC.
All listings with the WMLS logo are provided courtesy of the IDX program.
Last Updated: September 15, 2026 2:44 AM UTC
