Skip to Main Content
Online Access

Online Access

BankSouth offers immediate and easy access to your mobile and online banking. You can also apply for and review your ReadyLoan mortgage application.

Learn More



For over ten years, BankSouth has helped thousands of families finance their homes.  We know how daunting this may be, but we take the worry and hassle out of the process.

Learn MoreStart Your Application

Do’s and Don’ts During the Mortgage Loan Process at Christmas

Dec 2, 2019 Mortgage Speak

Don’t Make These Mistakes During the Holidays or You’ll Jeopardize Your Mortgage Loan!

Your holiday to-do list is long enough without adding buying a house on top of everything else. There is decorating, shopping, wrapping, and multiple gatherings to attend. To knock one small thing off your list that makes a BIG impact, it’s keeping your credit in shape while you’re moving through the mortgage loan process. To keep your credit sparkling like the Macy’s tree in Times Square, consider adding some of these do’s and don’ts to your to-do or not-to-do lists.

Don’t do these:

  • Do not open any new credit accounts. Retailers will try to entice you to open a new credit account so you can save 10% or more. Don’t give in! This will cost you big while Underwriters are reviewing your loan application. If you think it won’t show up on your credit report immediately, think again. When you apply for any new credit account, it shows almost as soon as when you’re standing at the cash register checking out.
  • Do not run up your credit card balances. You may have that credit balance to use to purchase presents, but if you run up your credit limits, this affects your Debt-to-Income Ratio. When your debt-to-income ratio reaches a certain point, Underwriters may question your affordability of the mortgage you are applying for.
  • Do not put off paying bills. Be sure to pay all of your bills on time while you are applying for a mortgage. Even one missed payment can affect the determination of your mortgage being approved or not.
  • Do not miss out on your annual free credit report. This is a no-brainer! The federal government gives you the same access to your credit report as creditors. See what your creditors see on your credit report to ensure that there are no surprises when it comes time to submit your loan application.

Do these:

  • Budget your holiday gift purchases and stay within your means. Before you start purchasing gifts, take some time to evaluate your current financial situation. Taking this time is very important and can ease the after-holiday stress knowing that you stayed within your budget and will not be in any financial hardship after the holidays.
  • Remember that lenders and other home service providers work reduced hours this time of year. The closer it is to the holidays, your loan may or may not slow down due to holiday events. Be sure to check with your mortgage banker.
  • Have fun and be merry! This is a special time a year for everyone and it’s important to celebrate with family and friends amid the process of buying a new home.
  • Reach out to your local lender if you have any questions regarding a new or current mortgage loan we can answer. We are here to make sure your mortgage experience is the best it can be, after all, our promise is for every custome to experience mortgage excellence.

Happy Holidays from BankSouth Mortgage!

Recent Posts

View our latest news and get the latest industry updates on our blog.

ATLANTA, GA – BankSouth Mortgage, which operates 13 offices across the Southeast, announces their CEO Kim Nelson has been named one of HousingWire Magazine’s 2022 Women of Influence. The Women of Influence list recognizes trailblazing women who have earned significant leadership positions...
Dreaming of building your custom home, but don’t know where to start? The building process is already stressful enough without having to think about the type of loan you need or how to manage the complex construction process and withdrawal...
What is your rate today? Well, in any market the answer is, “It Depends.” Every prospective borrower is different. I cannot say enough a rate quote should never have a marketing approach. Dangling the lowest rate opportunity to a borrower...