In recent years, it’s become more and more difficult to get approved for a home loan. If you even THINK there MIGHT be a chance of purchasing a new home or condo soon, then you need to read and abide by this super quick home buyers guide to the 10 commandments:
Thou shalt not use charge cards excessively or let your accounts fall behind. Pay off the balance each month, if possible.
Thou shalt not spend money you have set aside for closing.
Thou shalt not omit debts or liabilities from your loan application. They will pop up anyway.
Thou shalt not change jobs, become self-employed or tell your boss where to stick his stapler (aka unemployment).
Thou shalt not buy a car, truck or van or you may be living in it for a while.
Thou shalt not buy furniture before closing escrow. Wait until the keys are in your hands!
Thou shalt not originate any inquiries into your credit.
Thou shalt not make large deposits without first checking with your loan officer.
Thou shalt not change bank accounts.
Thou shalt not co-sign a loan for anyone.
If you have any questions, or recently broke any “commandments” like Mel Brooks did, call us and we will work through it!