Financing DONT’S

Once you have decided to buy a home and apply for a loan it is VITAL that you DO NOT engage in ANY of the following:

  • Pay any bills late
  • Consolidate your credit cards
  • Co-sign on any loans
  • Buy a new car or similar purchase
  • Increase the amount owed on any of your credit cards
  • Do anything that will result in an overdraft on your bank account

 

Consult with your loan officer regarding any of the following:

  • If you’re thinking of quitting your job or accepting a new job offer
  • If you have other mortgage or loan payments
  • Transfers of any kind from one bank account to another
  • Do anything with the gift funds from a relative until directed to do so
  • Spend any of the money you have set aside for the closing of your home
  • Forget to tell your lender of any debts that you may be responsible for
  • If you have Alimony payments or child support payments
  • Pay toward any collection accounts unless you are already in a payment plan
  • Buy any furniture or appliances for your new home with any type of credit
  • Make any deposit into your bank account with the exception of your pay check
  • Have other companies run your credit once you are approved for a loan

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