📜 The Ten Commandments of Buying a Home (Modern Buyer’s Edition)
Buying a home is exciting — the Pinterest boards, the Zillow scrolling at 2 a.m., the dreams of hosting the perfect backyard BBQ.
But before you break out the champagne, there’s an unspoken code every buyer should follow. And unlike the original Ten Commandments, these come straight from your loan officer, not Mount Sinai.
1️⃣ Thou Shalt Not Change Jobs (Even If Your Boss Eats Your Lunch… Literally)
Switching careers mid-process is like pulling the fire alarm in the middle of your mortgage application. Lenders love stability, so hang tight until after closing before making your career move — even if you’re tempted by a "dream job" selling tacos on the beach.
2️⃣ Thou Shalt Not Buy a Car, Truck, or Van (Unless You Want to Live in It)
That shiny new ride can wait. Big purchases mess with your debt-to-income ratio faster than you can say “denied.” Unless your dream home has four wheels and cupholders, keep that money in your pocket.
3️⃣ Thou Shalt Not Max Out Thy Credit Cards
Put the HGTV binge on pause. New granite countertops or a king-sized bed will still be there after closing. For now, keep your spending low and your credit score high.
4️⃣ Thou Shalt Not Spend Thy Closing Money
Your “down payment” fund is sacred. Treat it like grandma’s crystal — hands off until it’s time to use it.
5️⃣ Thou Shalt Not Omit Debts or Liabilities
Think your lender won’t find out about that “small” personal loan? Spoiler: they will. Honesty is the best (and only) policy here.
6️⃣ Thou Shalt Not Buy Furniture
We know — imagining your new sofa in that perfect corner is fun. But buying it now could kill your loan faster than you can say “backordered.”
7️⃣ Thou Shalt Not Apply for More Credit
Every time you apply for new credit, your score takes a ding. Don’t let “20% off if you open a store card today” be the reason you lose your dream house.
8️⃣ Thou Shalt Not Make Large Deposits Without Explanation
Big mystery deposits = big red flags. If it’s not from a documented source, your lender will start asking questions — and not the fun kind.
9️⃣ Thou Shalt Not Change Bank Accounts
Your lender needs a paper trail, and switching banks mid-process is like starting a new Netflix series halfway through season two. Confusing and unnecessary.
🔟 Thou Shalt Not Co-Sign a Loan
We love helping friends, but co-signing could tank your mortgage approval. If they need you to co-sign, just say, “Sorry, I’m in escrow.”
💡 Bottom line: When you’re in the middle of buying a house, think of your finances as being wrapped in bubble wrap. No sudden moves, no big changes, and no financial surprises. Stick to these commandments, and you’ll be unlocking your front door in no time.