The mortgage process does not have to be a complicated one, however, if you do not adhere to the following, it could messy fast.Â Below you will find 10 Principles to Adhere to when purchasing Your New Home!Â Happy House Hunting!
1 Thou shalt not change jobs, become self employed or quit your job.
2. Thou shalt not purchase any large items on credit such as cars, appliances or furniture.Â
3. Thou shalt not use your existing credit cards excessively or fall behind in your payments.
4. Thou shalt not spend funds that have been set aside for closing.
5. Thou shalt not omit debts or liabilities from your mortgage application.
6. Thou shalt not establish any new items of credit within 60 days of your closing.
7. Thou shalt not initiate any new inquiries into your credit.
8. Thou shalt not make any large deposits before checking with your Mortgage Banker.
9. Thou shalt not close any of your bank accounts or change banks.
10.Â Thou shalt not co-sign on new credit for anybody.