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What NOT to do when Applying for a Real Estate Loan
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- Do NOT change jobs or quit your job or become self-employed.
- Do NOT buy a car, truck or van (or you may be living in it)!
- Do NOT use charge cards excessively or let your accounts fall behind.
- Do NOT spend money you have set aside for closing.
- Do NOT omit debts or liabilities from your loan application.
- Do NOT buy expensive furniture.
- Do NOT originate any inquiries into your credit.
- Do NOT make large deposits without first checking with your loan officer.
- Do NOT keep your down-payment money under the mattress.
- Do NOT co-sign a loan for anyone.
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