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Don't Spend a Penny...

...without consulting us or your mortgage advisor!


When you’re in the process of buying a home, it’s important not to accrue any new debts—especially after you’ve been pre-approved! This can (and likely will) affect whether you will actually get the loan you were approved for.


Now, this doesn’t mean you can’t go out to eat, buy groceries, get gas, or spend any other daily, weekly, and monthly expenditures you normally have.


It means…

  • Don’t go buy a new car (or lease one)...

  • Don’t go and book a vacation on the credit card (or drain your checking account)...

  • Don’t even necessarily pay off a large credit card bill!


There are plenty of other examples we could give, but the bottom line is this…


Before you spend or commit to any debts between now and when you close on your new home, check with us and your mortgage advisor before doing so.


Some purchases may be absolutely necessary. Some may not even affect a thing. But it’s better to be safe than sorry.


Too many buyers aren’t advised of this and don’t think twice about spending money. Unfortunately, they find out the hard way.

Our Ten Commandments of Buying a Home:


  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 credit cards excessively or let current 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 on credit.

  7. Thou shalt not originate any inquiries into your credit.

  8. Thou shalt not make large deposits without checking with your loan officer.

  9. Thou shalt not change bank accounts.

  10. Thou shalt not co-sign a loan for anyone.

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