The Ten Commandments of Home Buying

Whether you're buying your first home, your next home or even refinancing, you need to avoid some risky actions that could derail your loan. Lenders have gotten much tougher and will look at you and your credit history thoroughly.Whether you're buying your first home, your next home or even refinancing, you need to avoid some risky actions that could derail your loan. Lenders have gotten much tougher and will look at you and your credit history thoroughly.At first glance, these 10 Commandments seem very easy to follow. However, you'd be amazed at how ignoring just ONE of these items can ruin your chances for qualifying for the loan you want.Whether you're buying your first home, your next home or even refinancing, you need to avoid some risky actions that could derail your loan. Lenders have gotten much tougher and will look at you and your credit history thoroughly.At first glance, these 10 Commandments seem very easy to follow. However, you'd be amazed at how ignoring just ONE of these items can ruin your chances for qualifying for the loan you want.

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