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.
 

Evelyn Santiago

Managing Broker - 630-251-0059

Dynamic Real Estate Network, Inc.

 
This post has been included in Illinois Real Estate News Kendall County, IL Real Estate News
Post is included in group: Running a Brokerage
Post is included in group: short sale specialists

5 Comments on Pre-Approved? Follow these Commandments and Get to Closing!

MAY
17
2012
610,018 Points Outside Blog

Your Ten Commandments are so helpful. If everyone will follow these, it will be a lot eaier to have a good closing.

Betty
1:39pm • #1
318,177 Points

Great reminder for the home buyer I always try to educate my buyer's on these ten commandments for a successful closing.
1:57pm • #2
190,409 Points 2 Featured Posts Outside Blog

Thanks for posting this repost, Evelyn.  Great rules for the buyers to live by when purchasing a home!!
2:23pm • #3
MAY
18
2012
496,839 Points 149 Featured Posts Outside Blog Hit Router Called Shot Master

And sticking with the religious theme, I say ... "AMEN!"  I think we need to make new buyers memorize these and them sign them, Evelyn.  What havoc, is they don't!  Maybe mortgage lenders should print these up for handouts and give them to their applicants and referral partners???  Hmmmm ....

Gene
12:58pm • #4
JUN
04
279,235 Points 14 Featured Posts Outside Blog Called Shot Master

number 2 was my favorite!  yes had one that fell apart for that exact reason and yes it is a story for me to tell all prospective buyers as a warning!
5:10pm • #5


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Evelyn Santiago Realtor® Traditional Sales - Short Sale IL - FL

Oswego, IL

More about me…

Evelyn Santiago - Dynamic Real Estate Network, Inc.

Address: Virtual, Oswego, IL, 60543

Office Phone: (630) 896-9999

Cell Phone: (630) 251-0059

Email Me

Bit's and pieces from the life of a Realtor in Oswego, IL in a challenging market.


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