The Ten Commandments When Applying For A Real Estate Loan

  • Thou shalt not change jobs, become self-employed or quit your job.
  • Thou shalt not buy a car, truck or van (or you may be living in it)!
  • Thou shalt not use charge cards excessively or let your accounts fall behind.
  • Thou shalt not spend money you have set aside for closing.
  • Thou shalt not omit debts or liabilities from your loan application.
  • Thou shalt not buy furniture.
  • 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.

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