Categories for The Ten Commandments

Commandment #10 (The 10 Commandments of Real Estate)

Commandment #10 (The 10 Commandments of Real Estate) Finally, Commandment #10: Thou shall not co-sign a loan for anyone! Man, I can’t believe how many times we’ve actually seen this. We get somebody in, to get approved pre-approval for a mortgage. We ask them, do you have any debt? They give us ...

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Commandment #9 (The 10 Commandments of Real Estate)

  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 ...

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Commandment #8 (The 10 Commandments of Real Estate)

Commandment #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 ...

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Commandment #7 (The 10 Commandments of Real Estate)

Commandment #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 ...

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