FAQs

I need to make a big purchase (example: Car purchase), will this be an issue?

We advise all borrowers to avoid making large purchases during your loan application process. Large purchases, whether added to an existing credit card or the creation of a new credit line, may change your debt-to-income ratio used to approve your loan. A significant increase in your debt may risk the approval of your loan application. During the application process, any changes to your credit can affect your ability to be approved. It’s best to hold off on any big changes to your credit until you’re approved.