10 Commandments for Home Buyers

1. Thou shalt not change jobs, become self-employed or quit your job. Longer employment time shows stability and a reduced likelyhood of default.

2. Thou shalt not buy a car, truck or van (or you may be

living in it)! This will increase your debt to income ratio.

3. Thou shalt not use charge cards excessively or let your

accounts fall behind. This shows poor money management and an increased risk of default.

4. Thou shalt not spend money you have set aside for closing. It costs money to borrow money - make sure you have enough.

5. Thou shalt not omit debts or liabilities from your loan

application. This is tantamount to fraud - never a good thing!

6. Thou shalt not buy furniture or other big ticket item on credit. Like buying a car, this increases your debt to income ratio.

7, Thou shalt not originate any inquiries into your credit. The algorhythm is a secret but you'll get dinged a few points for most inquiries.

8. Thou shalt not make large deposits without first checking

with your loan officer. Money needs to "season" in your bank account, typically for 60 or more days.

9. Thou shalt not change bank accounts. A strong banking history, like a strong employment history, shows stability.

10. Thou shalt not co-sign a loan for anyone. Like buying cars or furniture, this increases your debt to income ratio.

The S&B Real Estate Team assists people in buying and selling real estate throughout Southwest Washington. We are proud members of Keller Williams Realty - Premier Partners in downtown Vancouver. Our local expertise covers: Vancouver, Battle Ground, Camas, Washougal, Brush Prairie, Hockinson, Ridgefield, Woodland and La Center. If you or someone you know is considering living or investing in Clark County, please contact us. Jamie Carroll can be reached at 360-609-6775 or via the "Contact Us" page at www.MyRealtorIsJamie.com. Steve Borwieck can be reached at 360-241-7305 or via the "Contact Us" page at www.sbreteam.com.  We are here to help!