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  • Writer's pictureMolly Reed

10 Commandments When Obtaining a Mortgage

Once you find your dream home, we need to make sure you actually move into it and therefore, you MUST follow these 10 Commandments when applying for a mortgage or while in escrow.




They may seem obvious, but you’d be surprised how many buyers get wrapped up in the excitement of buying their home, and forget.


1. Thou shalt not change jobs, become self-employed, or quit your job


2. Thou shalt not buy a car, truck, or van


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 with financing


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


And one extra bonus one for you: Thou shalt not wire money to your closing attorney without verifying instruction over the phone

Some of these things may be tempting (new furniture, yes please!) but in order for your loan to make it through underwriting and get approved, it's super important not to do anything out of the ordinary surrounding your financing.


Love this list and want to download or share? Find a PDF Version HERE.


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