Home Buying Guide – 10 Commandments when Applying for your Loan

10 commandments when applying for a loanThese are important rules to follow to ensure a smooth loan process.

  1. Thou shalt not change jobs, become self-employed or quit your job.
  2. Thou shalt not buy a car, truck or van (or you may be living in it)!
  3. Thou shalt not use charge cards excessively or let your accounts fall behind.
  4. Thou shalt not spend money you have set aside for closing.
  5. Thou shalt not omit debts or liabilities from your loan application.
  6. Thou shalt not buy furniture.
  7. Thou shalt not originate any inquiries into your credit.
  8. Thou shalt not make large deposits without first checking with your loan officer.
  9. Thou shalt not change bank accounts.
  10. Thou shalt not co-sign a loan for anyone.

 

See more articles in my Home Buying Guide:

Must-Have Online Research Tools Every Buyer Needs
The 8 Most Important People You Need to Know in Real Estate
10 Critical Questions to ask your Realtor
6 Tips when Purchasing a Home
Top 10 Reasons to Buy a Home
Financing and the Costs to Buy a Home
How Buyers Can Negotiate Successfully in a Seller’s Market

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