The Borrower's Ten Commandments (When applying for a mortgage)

Our #1 goal is for our clients to experience a smooth and predictable mortgage process. So here is a somewhat humorous list of activities to avoid during the mortgage process:

  1. Thou shalt not change jobs, become self-employed or quit your job.
  2. Thou shalt not make large deposits without checking with your loan officer. 
  3. Thou shalt not buy a car, truck or van (or you may be living in it)!
  4. Thou shalt not use credit cards excessively or do a cash advance.
  5. Thou shalt not spend money you have set aside for closing.
  6. Thou shalt not omit debts or liabilities from your loan application.
  7. Thou shalt not buy furniture.
  8. Thou shalt not have any new inquiries into your credit.
  9. Thou shalt not change bank accounts.
  10. Thou shalt not co-sign a loan for anyone!

Bottom line...it's best to call or e-mail me, John Schutze (512-524-8310) before you do any of the above. We can review your plans and determine how it might affect the mortgage process. Many times if properly documented the above items will not disqualify you for a loan, but it's best to know sooner than later!