The 10 Commandments when Applying for a Home Mortgage


THE FIRST COMMANDMENT
Thou shalt not change jobs, become self-employed, or quit your job.

THE SECOND COMMANDMENT
Thou shalt not buy a car, truck, or van (or you may end up living in it!).

THE THIRD COMMANDMENT
Thou shalt not use charge cards excessively or let your accounts fall behind.

THE FOURTH COMMANDMENT
Thou shalt not spend money you set aside for closing.

THE FIFTH COMMANDMENT
Thou shalt not omit debts or liabilities from your loan application.

THE SIXTH COMMANDMENT
Thou shalt not buy furniture.

THE SEVENTH COMMANDMENT
Thou shalt not originate any inquiries into your credit.

THE EIGHTH COMMANDMENT
Thou shalt not make large deposits without first checking with your loan officer.

THE NINTH COMMANDMENT
Thou shalt not change bank accounts.

THE TENTH COMMANDMENT
Thou shalt not co-sign a loan for anyone.

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