THE TEN COMMANDMENTS When applying for a Real Estate Loan

When you are in the process of applying for a loan, documentation, paying bills on time and keeping your credit score up is crucial. The loan officer can pull credit up to the hour before closing. Buyers have lost out on their dream home because they did not follow these 10 simple rules. 

  1. Thou shalt not change jobs, become self-employed or quit your job.
  2. Thou shalt not buy a car, truck or van (or you may be living in it)!
  3. Thou shalt not use charge cards excessively or let your accounts fall behind.
  4. Thou shalt not spend money you have set aside for closing.
  5. Thou shalt not omit debts or liabilities from your loan application.
  6. Thou shalt not buy furniture.
  7. Thou shalt not originate any inquiries into your credit.
  8. Thou shalt not make large deposits without first checking with your loan officer.
  9. Thou shalt not change bank accounts.
  10. Thou shalt not co-sign a loan for anyone.

 

Agent

Tonya Byrd

Tonya Byrd

Phone770-823-5786

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