Cindy's Tips For Home Buyers

10 Do Not's of Home Buying

1. DO NOT change jobs, become self-employed or quit your job.

2. DO NOT buy a car, truck or other vehicle on credit.

3. DO NOT use credit cards excessively or let your accounts fall behind.

4. DO NOT spend money you have set aside for closing.

5. DO NOT omit debts or liabilities from your loan application.

6. DO NOT buy furniture or anything else on credit.

7. DO NOT originate any inquiries into your credit.

8. DO NOT make large deposits without first checking with your loan officer.

9. DO NOT change bank accounts.

10.DO NOT co-sign a loan for anyone.


If the bank has pre-approved you or approved your mortgage remember that your credit must not change or be affected in any way until you get possession of your new home. Lenders will not only look into your credit when you first get pre-approved and when your mortgage is approved, they will check it again before releasing mortgage funds so DO NOT do anything that will affect your credit score before you take possession.


Buyer’s have had their mortgage turned down days before they were supposed to move into their new home because they went out and bought a new truck or new furniture on credit. This happens even after your mortgage has initially been approved because the bank will rechecked your credit before they release funds. If you want to buy new furniture for your home or change jobs, just be patient. There will always be time to do it after the closing.

Cindy Tippe
Cindy Tippe
A5, 2409 - 16th St PO Box 1898 Didsbury AB T0M 0W0