Following are some helpful points to keep in mind before you close on your loan. Should a question or concern ever arise during the process, please contact Prestige for answers.


… present a cashier’s check payable to the title company for the amount of your closing costs

… notify us if your income changes from what is documented on your loan application

… keep documentation on any large deposits not related to payroll in your bank accounts. Lenders will require a paper trail to source the large deposit(s). This “paper trail” should include copies of checks, deposit slips, and a signed letter explaining the deposit(s).



… acquire any additional credit or make any large purchases on existing credit without consulting us. For example, purchasing a car or charging a large purchase on a credit card can have a negative impact on your debt-to-income ratios and could jeopardize your loan approval.

… change jobs without consulting us. A change in compensation could affect your ability to qualify. Borrowers must have a two-year history of bonuses and/or commissions to be counted as income. As a quality control check, lenders will verbally verify employment the day before closing.

… be a co-signer for a line of credit or loan. This debt will be included in your debt-to-income ratio and may impact your ability to qualify for the loan. The co-signed loan will show up on your credit report as an additional debt.