General, Buying a Home, Buying a Home

How to begin the Mortgage Process - Start here!

Preparation is key to navigating today's housing market. The home loan application process begins with determining what you can realistically afford, gathering the necessary documents as outlined by your lender and familiarizing yourself with the fundamentals of the home loan process, interest rates, loan terms and additional fees associated with buying a home.

But once you’ve begun the mortgage process, what steps can you take to keep the process running smoothly and on track towards your closing? * Here are a few do's and don'ts to remember once you've begun the mortgage process...


  • Keep paying all of your bills on time, including your current housing expenses, credit cards, loans, and all other monthly obligations.
  • Let your Loan Officer know immediately if you expect anything to happen with your current employment status (promotion/demotion, job loss, change in income, etc.).
  • Save your money for closing. Notify your Loan Officer if you plan on receiving any gift funds.
  • Line up your homeowner's insurance policy. Here at Washington Trust, an insurance binder is required before closing.
  • Notify your Loan Officer about any large deposits, outside of your normal monthly income.


  • Don't make any major purchases until after your closing (car, furniture, appliances, etc.).
  • Don't open or increase any credit, including credit cards, loans, or any other lines of credit.
  • Avoid making unnecessary transfer between accounts without receiving the appropriate documentation required for your loan.
  • Don't start any home improvement projects.
  • Don't change your job or become self-employed without first inquiring about the impact the change may have on your loan.

*Varying factors may delay closing.

The opinions expressed in this newsletter are those of the author and may not reflect those of Washington Trust. The information in this report has been obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. Any opinions expressed herein are subject to change at any time without notice. Any person relying upon this information shall be solely responsible for the consequences of such reliance. Performance is historical and does not guarantee future results.

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