Wondered what to do or not do when trying to purchase a home? Here at Midland 1st Choice, The Underwood Group, we like to educate our buyers when trying to purchase a home. These 10 Commandment’s of Home Buying will walk you through the steps you need to insure a smooth closing when buying your home.
10 Commandments of Home Buying
- Thou shalt not change jobs, become self-employed or quit your job.
- Thou shalt not buy a vehicle, RV, Boat.
- Though shalt not use credit cards excessively, let current accounts fall behind, or max out your card.
- Thou shalt not spend money you have set aside for closing cost.
- Thou shalt not omit debts or liabilities from your loan application.
- Thou shalt not buy furniture.
- Thou shalt not originate any inquiries into your credit.
- Thou shalt not make large deposits or withdraw large amounts of money without checking with your loan officer.
- Thou shalt not change bank accounts.
- Thou shalt not co-sign a loan for anyone.
It is very importation to follow these Commandment’s of Home Buying. So many times we see clients get approved for a mortgage and then the transactions fall through because of a simple mistake, that the client did not even know was a mistake. Always remember that if you have any transactions that you have questions about, reach out to your lender for advice.