After you apply for a mortgage pre-approval, from that day forward, you must be disciplined, strategic and careful so that you don’t get denied for that new mortgage.
10 COMMANDMENTS OF HOME BUYING
- Thou shalt not change jobs, become self-employed (1099) or quit your job.
- Thou shalt not buy a car, truck, RV, timeshare, or van, or you may be living in it.
- Thou shalt not use credit cards, open new accounts, close accounts, or fall behind on ANYTHING.
- 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, appliances or ANYTHING!
- Thou shalt not make any inquiries into your credit.
- Thou shalt not make large deposits without checking with your loan officer.
- Thou shalt not change bank accounts.
- Thou shalt not co-sign for ANYONE!