Commandment #9 Thou shall not change bank accounts. Again, very important, sort of related to Commandment #8. The one thing that your lender looks for is consistency. If you’ve got a brand new bank account or you’ve changed bank accounts, they’re going to question where the money source is ...
Continue ReadingCommandment #8 Well, hello there. We’re talking about Commandment #8 today and that will be: “Thou shall not make large deposits without checking with your loan officer first or your mortgage broker.” So the reason you don’t want to do that is that you don’t want to give any kind ...
Continue ReadingCommandment #7: Thou shall not originate any inquiries into your credit. What does that mean? Well, that basically means after you’ve got your mortgage approval and you’re all ready to go and everything’s set to close. The last thing you want to do is have a whole bunch of credit inquiries into your credit ...
Continue ReadingCommandment #5 Now, this is Commandment #5 Thou shall not omit debts or liabilities from your loan application. So it’s very important that when you fill out a mortgage application, you tell the truth. Because here’s the thing somewhere along the line, we are going to find out the truth. We’re going to ...
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