Ten Commandments for Buying a Home
1. Thou shalt not change jobs, become self-employed or quit your job.
2. Thou shalt not buy a car or van (because you might 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 down payment or closing costs.
5. Thou shalt not omit debts or liabilities for your loan application.
6. Thou shalt not buy/charge/open new accounts to buy furniture.
7. Thou shalt not apply for any type of credit anywhere else. This might affect your chances for a loan.
8. Thou shalt not make large deposits into your accounts without first checking with your Home Mortgage Consultant. The proper documentation before depositing is very important!
9. Thou shalt not change bank accounts or transfer excessive funds from account to account.
10. Thou shalt not co-sign for any type of credit for any friends or family.
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Reprinted from Countrywide Home Loans
