What Every Mortgage Applicant Should Know

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What Every Mortgage Applicant Should Know



1. Thou shall not change jobs, become self-employed or quit your job.


2. Thou shall not buy a car, truck or van (or you may be living in it.)


3. Thou shall not use charge cards excessively or let your accounts fall behind.


4. Thou shall not spend money you have set aside for closing.


5. Thou shall not omit debts or liabilities from your loan application.


6. Thou shall not buy furniture.


7. Thou shall not originate any inquiries into your credit.


8. Thou shall not make large deposits without first checking with your loan officer.


9. Thou shall not change bank accounts.


10. Thou shall not co-sign on a loan for anyone.

[demi]

Great Post, thanks for the refresher......I close sometime in second half of next month (YEAH)....the refirgerator I want is on sale....I keep thinking, maybe I should (have the money, cash) on one side of the brain, the other side says...keep all that money handy, you don't know what might happen (I have 2x + the closing costs just in case).  You just convinced me...not worth the $100 off....besides, I can probably find it somewhere else, sales seem to rotate from one store to another !

Message Edited by demi on 06-19-2008 03:45 PM

[DallasLoanGuy]

that's a start......

[Anonymous]

Great post.