Ten Commandments When Applying for a Loan

 Loan Commandments Ten Commandments When Applying for a Loan

Number 1- Thou shalt not change jobs, become self-employed or quit your job.

Number 2- Thou shalt not buy a car, truck or van (or you may be living in it).

Number 3- Thou shalt not use charge cards excessively or let your accounts fall behind.

Number 4- Thou shalt not spend money you have set aside for closing.

Number 5- Thou shalt not omit debts or liabilities from your loan application.

Number 6- Thou shalt not buy furniture.

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

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

Number 9- Thou shalt not change bank accounts.

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

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