When you’re applying for a home loan, there are several things you should avoid at all costs. Here are the ten biggest, in the form of a Home Loan Ten Commandments:
- Thou shalt not change jobs, quit or become self-employed.
- Thou shalt not make a major purchase such as a new car.
- Thou shalt not use charge cards excessively or let payments fall behind.
- Thou shalt not spend money set aside for closing.
- Thou shalt not omit debits or liabilities from your loan application.
- Thou shalt not buy new furniture or major appliances before closing.
- Thou shalt not originate multiple credit inquiries.
- Thou shalt not make large deposits without loan officer approval.
- Thou shalt not change banks or bank accounts.
- Thou shalt not co-sign for a loan.
I hope they help you!
