10 Commandments When Applying for a Real Estate Loan

February 22, 2008 at 8:57 pm 2 comments


Originally uploaded by thenelsonproject

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 or appliances.
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.

© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2008-2010. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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Entry filed under: Austin, Smart Buyers, Smart Real Estate. Tags: , , .

How Much Can You Afford and what is the ‘affordability factor? Are Austin Homes Sales Falling? Today in the ABJ …

2 Comments Add your own

  • 1. Brevard County FL Real Estate  |  February 27, 2008 at 3:02 pm

    Great tips to remember and in this current market with lenders being more cautious this list has never been more helpful.

    Reply
  • 2. Shaun Kennedy  |  April 26, 2008 at 12:37 am

    Another commandment should be ” Thou shalt
    check your credit report first before applying
    for your mortgage.” This is helpful when you
    find you’ve been a victim of identity theft
    and they charged 8,000 on your credit card.

    Reply

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© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2008-2010. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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