The Ten Commandments
When applying for a Real Estate Loan
1. Thou shalt not…change jobs, lessen hours, become self-employed or quit your job.
2. Thou shalt not…buy a car, truck, van or boat (or you may have to live in it)!
3. Thou shalt not…use your credit cards excessively or let your accounts fall behind.
4. Thou shalt not…spend money you have set aside for closing cost.
5. Thou shalt not…omit debts or liabilities from your application. For example: child support, alimony, IRS liens, judgments or open lawsuits
6. Thou shalt not…buy appliances for your new home until you actually own it.
7. Thou shalt not…originate any new inquiries into your credit report.
8. Thou shalt not…lie about residency or marriage status.
9. Thou shalt not…co-sign for anyone.
10. Thou shalt not…make a large deposit without first checking with your loan officer.
Kelli Holbrook-NMLS #785836
41877 Enterprise Circle N #100 Temecula, CA 92590• Cell (951) 775-7900 • Fax (866) 440-1955
Jim Holbrook- NMLS #246426
Cell (951) 514-0734