My sister, who is a licensed RE/MAX Realtor in Albuquerque, sent this to me and I thought it was just a perfect reminder to Borrowers. Please listen to your Realtor and your Lender. We are serious when we say that ANY changes to your financial situation can jeopardize your loan approval. To my fellow agents out there grab your coffee and enjoy! We've all been there.........
1. Thou shalt not quit your job
2. Thou shalt not change employers
3. Thou shalt not incur new debt such as purchasing a new vehicle......no matter if it is a
zero percent loan for 2 years.
4. Thou shalt not charge up your credit card balances.
5. Thou shalt not change your mind after locking a rate.
6. Thou shalt not make a large deposit into or withdrawal from your bank account.
7. Thou shalt not co-sign for someone else's loan.
8. Thou shalt not spend your down payment money.
9. Thou shalt not schedule a vacation prior to closing.
10. Thou shalt not file for divorce prior to closing!
Although we can all see the humor in the above commandments, being under contract to purchase a home carries a responsibilty from you, the Borrower, to not jeopardize the success of the transaction by making major financial changes just prior to closing. Your Realtor and Lender are there to guide you through the process to make your dreams a reality but it's a team effort. Following the advice from your Colorado Springs Realtor and your Lender are the road to successfully purchasing your new home here in Colorado Springs.
For more information on purchasing a home in the Colorado Springs area please contact Lorraine Sayer.
Disclaimer: My sister cannot remember who gave her this list so if this is yours please claim your talented wisdom in the comment section!