What Not To Do During the Loan Process

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People always ask me, "Is there things I should or should not be doing during the loan process?"
The should do's are relatively straight forward keep paying your bills on time and be sure you and your mortgage processor are in regular contact so you know what you need to do to keep the process moving forward. Some of the should NOT do's are pretty straight forward, but some may surprise you. I always like to refer my clients to the 10 Mortgage Commandments so they know exactly what NOT to do once the loan process has started.​ 

​10 Mortgage Commandments

1. ​Thou shalt not change jobs
2. Thou shalt not buy a car, truck or boat unless you plan to live in it
3. Thou shalt not max out your credit cards
4. Thou shalt not close any accounts
5. Thou shalt not spend your down payment money
6. Thou shalt not buy furniture (or anything else) before your loan closes
7. Thou shalt not become self-employed
8. Thou shalt not make any large undocumented deposits into your bank account
9. Thou shalt not shuffle your money
10. Thou shalt not co-sign for anyone

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