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The Ten Commandments for a Smooth Loan Transaction
Thou Shalt Not Change Jobs, become Self Employed or QUIT Your Job(s)- Thou Shalt Not Buy a Vehicle (or you may be living in it!
)
- Thou Shalt Not Become Late on ANY Payments
- Thou Shalt Not Reduce Account Balances Below What You Told/Provided to Your Loan Officer
- Thou Shalt Not “Forget” to Include All Debts on Application
- Thou Shalt Not Buy “Big Ticket” Items (>$250)
- Thou Shalt Not Apply for Credit Anywhere Until Your Loan is Complete and Closed (credit inquiries count too!)
- Thou Shalt Not make “Unusually” Large Deposits Into Your Accounts Without First Consulting with Your Loan Officer
- Thou Shalt Not Close/Open/Change Bank Accounts
- Thou Shalt Not Co-Sign on a Loan for Friends or Family
