Did you just put a house under contract? Are you a first time home buyer whose offer just got accepted? Let me guess, you’ve already picked out the paint color for each room and decided where you’re going to put your furniture, and you may have even decided that you want to go buy all new furniture for your new home?

Well, it’s time to take a step back and slooooooow down.

The time between putting a house under contract to closing day are very tender days for a buyer’s credit score and their lender. Any changes that are made, the bank will take note, so buyers need to be careful what they do during that period of time.

Lucky for Home Buyers, the Ten Commandments of Buying a Home were created by an unknown author and we are going to share them right now!

Pay attention to these Commandments as they will help ensure that you, the buyer, can make it to closing day on your new home!

Here they are, The Ten Commandments of Buying a Home:

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


Image from superbookacademy.com