Tips for First time buyers - 10 commandments

A good friend shared this with me today. Things that you shouldn't do if you're in the process of getting qualified to buy a home. These are very important and I'd like to share with you.

1. Thou Shalt NOT change jobs or become self employed

2. Thou Shalt NOT buy a Car, Truck or Van unless you plan to live in it

3. Thou Shalt NOT use credit cards or let payments fall behind

4. Thou Shalt NOT spend the money you have saved for your down payment

5. Thou Shalt NOT omit debts or liabilities from your loan application

6. Thou Shalt NOT buy furniture even on deferred payment plans until after the closing or purchase anything on credit until after the loan closing

7. Thou Shalt NOT originate any new inquiries against your credit report

8. Thou Shalt NOT make large deposits into or out of your checking account with out consulting your loan officer

9. Thou Shalt NOT change bank accounts

10. Thou Shalt NOT Co-sign a loan for anyone


These things are very important in making sure you stay qualified for the home you are buying. Believe me, I've seen so many of these done. Congratulations of your home purchase.