The Ten Commandments of Buying a Home
PURCHASING A HOME? Here are the 10 Commandments of Buying a Home.
1. Thou shalt not change jobs, become self-employed or quit your job.
2. Thou shalt not buy a car, truck or van (or you may be living in it)! Don’t buy furniture.
3. Thou shalt not open/close or use credit cards excessively or let current accounts fall behind. Don’t use overdraft checking.
4. Thou shalt not spend money you have set aside for closing.
5. Thou shalt not omit debts or liabilities including alimony & child support from your application.
6. Thou shalt be extra vigilant about paying all their bills on time, even if you’re disputing one.
7. Thou shalt not originate any inquiries into your credit.
8. Thou shalt not make large deposits/withdrawals without checking with your loan officer.
9. Thou shalt not change bank accounts.
10. Thou shalt not co-sign a loan for anyone.
PLEASE wait until AFTER closing to do any of these things or it may stop your purchase completely!