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The Key to Home Ownership Begins Here

10 commandments to live by during your mortgage process.

Portrait picture of Couple holding the keys to their new house

The 10 Mortgage Commandments

When planning to buy a home, your first order of business shouldn’t be creating a wish list – it should be reviewing your credit. While it’s possible to buy a home without a mortgage, most people don’t have that kind of cash, and your credit is a major factor in lender decisions.

“Before applying for any loan, be sure to check the state of your credit,” says President Scott Smith. “Owning a home is a big part of the American dream, but home loans can be very complex, and doing all of the proper research from the beginning, including completing any necessary credit repair up front, will make the process that much simpler.”

In addition to monitoring and rectifying your credit, once you have applied for a mortgage it’s important to live by these 10 commandments during your mortgage process.

  1. Thou Shalt Not change jobs, become self-employed or quit your job.
  2. Thou Shalt Not make any large purchases such as: a new car, motorcycle, ATV, boat, camper or timeshare.
  3. Thou Shalt Not buy anything on credit including: furniture, appliances, fencing, a swimming pool, etc.
  4. Thou Shalt Not co-sign for a loan or other type of credit for anyone.
  5. Thou Shalt Not order additional credit reports for anything.
  6. Thou Shalt Not use your credit cards or close any existing credit lines.
  7. Thou Shalt Not spend money excessively; especially funds set aside for down payment, closing costs and reserves.
  8. Thou Shalt Not make large deposits or withdraws to any account.
  9. Thou Shalt Not change financial institutions, open accounts, close accounts or change account ownership.
  10. Thou Shalt Not bounce a check or make a late payment on any debt.

Get a copy of your credit report at