If you are buying a Home – Here are the 10 commandments to staying Approved to do so

    When it comes to buying real estate, there are things that are “known” and some that are a bit “blurry” when it Don't break the 10 commandments of lendingcomes to changing your financial situation while in escrow.

    Most know that buying two homes at the exact same time is bad juju – but when it comes to wanting to pay off credit cards, who would have thought that could get someone into trouble.

    Just when you thought it was safe to pay off your car, think again.

    Here are the 10 commandments to keeping the ability to obtain a loan for the home you are purchasing.

    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 your loan application.
    6. Thou shalt not buy furniture on credit.
    7. Thou shalt not originate any inquires into your credit (no applying for credit of any kind, not even a gas card!)
    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.

    Here is the 10, brought to us my Mike Meena at Augusta Financial.

    You have no idea how many times people have not been able to finance real estate, even after they were approved, because they broke one of these 10.

    Forgiveness comes with the Biblical 10, but on the Funding Side – No such benefit with the lending relationship 🙂

    Be safe – enjoy the post and let us know when you are ready to MOVE…

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    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

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