You have your pre-approval in hand and are ready to start viewing a couple of dozen homes with your favorite real estate agent. But before you head out the door remember the following 10 Commandments brought to you courtesy of Karen Deis of Origination News. She stoled it from her favorite real estate agent who stole it from someone else....thanks to the originator of these Commandments....from another thief!
Commandments When Applying for a Mortgage Loan
1. Thou shall not change jobs or become self-employed.
2. Thou shall not buy a car, truck or van unless you plan to live in it.
3. Thou shall not use your credit cards or let your payments fall behind.
4. Thou shall not spend the money you have saved for your downpayment.
5. Thou shall not buy furniture before you buy your house.
6. Thou shall not originate any new inquiries on your credit report.
7. Thou shall not make any large deposits into your bank account.
8. Thou shall not change bank accounts.
9. Thou shall not co-sign for anyone.
10. Thou shall not purchase anything until after the closing.