How many times has it happened to you that just when you're about ready to close a transaction, the buyer has quit their jobs, put a lump sum of cash into their bank account, bought a car, etc? Print this and hand this to all of your buyers. Enjoy!
10 Commandments When Applying for a Mortgage Loan
Thou shall not change jobs or become self-employed
Thou shall not buy a car, truck or van unless you plan to live in it
Thou shall not use your credit cards or let your payments fall behind
Thou shall not spend the money you have saved for your down payment
Thou shall not buy furniture before you buy your house
Thou shall not originate any new inquiries on your credit report
Thou shall not make any deposits into your bank account that aren't payroll related
Thou shall not change bank accounts
Thou shall not co-sign for anyone
Thou shall not purchase ANYTHING until after the closing
