Chicago mortgage loan tipsThe following information is a guest blog from my friend Matthew Ewald who is a mortgage broker for 1st Advantage Mortgage.  You can find more information about Matt and how he can help real estate purchasers on his website or at 630-376-0484.  Matt has put together a list of “do’s and don’ts” to help prospective purchasers succeed during the mortgage financing process.  Chicago home buyers can get ahead of the game by talking with their lender at the beginning of the loan process.  They can learn what to do and, equally important, what not to do when trying to finance a piece of residential property in Illinois.  A bit of time invested up front can turn a Chicago renter into a Chicago homeowner without much fuss!  Without further ado, here’s Matt:

There are lots of things a home buyer can do to affect their home mortgage loan.  Buyers can make the process run smoother and have a higher success rate, or, unfortunately, buyers can take certain actions to ruin the loan process or to make it much harder to get their loan.  Here are some helpful DOs and DON’Ts to follow when applying for home financing.


  • DO have easy access to all your paystubs, bank statements and other financial documents
  • DO provide your earnest money deposit from your own personal bank account or acceptable gift funds
  • DO notify your loan officer if you plan to receive gift funds for closing
  • DO make timely payments on all current debt obligations (current mortgage, student loans, credit cards, etc.)
  • DO notify your loan officer regarding any changes to your employment status right away


  • DON’T change jobs, become self-employed or quit your job
  • DON’T buy a new vehicle or any other big ticket item
  • DON’T use credit cards excessively or fall behind in payments
  • DON’T spend money that has been set aside for your closing
  • DON’T omit debts or liabilities from your loan application
  • DON’T originate any new inquiries into your credit
  • DON’T make large deposits without first checking with your loan officer
  • DON’T change bank accounts or move money between accounts
  • DON’T co-sign on a loan for anyone

The mortgage process may seem complex, but I am here to guide you through every step of the way. At 1st Advantage Mortgage, we strive to educate and prepare our borrowers so the loan process runs smoothly with no surprises along the way. Contact me today to get started on your next home loan!

Matthew Ewald
Office: 630-376-0484
Cell: 773-454-3547
1st Advantage Mortgage
NMLS 198323
Company NMLS 2551


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