21 Commandments When Buying a Home

This article was originally printed in Loan Officer Magazine several years ago. It was then entitled “Ten Commandments of Buying a Home”, but it was recently posted on Facebook and a number of lending officers suggested additional commandments be added, making it 21 Commandments.

  1. Thou shall not view even one home without being pre-approved for a mortgage.
  2. Thou shall not buy the first home that you view.
  3. Thou shall not fall in love with the décor.
  4. Thou shall read and understand the terms of the entire purchase contract.
  5. Thou shall not be your own home inspector (unless you are one in real life).
  6. Thou shall not quibble with the seller over minor repairs.
  7. Thou shall not be your own lawyer (unless you are one in real life).
  8. Thou shall not spend the money you have saved for your down payment.
  9. Thou shall not spend the money you have saved for your closing costs.
  10. Thou shall show up at closing with a certified check & homeowner’s insurance policy.
  11. Thou shall not send pictures of your pay stub from your iPhone.
  12. Thou shall not take a credit card advance for your down payment or closing costs.
  13. Thou shall not keep your down payment money in the freezer or under a mattress.
  14. Thou shall not take 3 weeks to submit additional documentation requested by the underwriter.
  15. Thou shall not expect the home to appraise higher than other homes in the neighborhood.
  16. Thou shall not send 5 pages of bank statements when the statement says there are 6 pages.
  17. Thou shall not cross out account numbers on your bank statement.
  18. Thou shall not cross out social security numbers on tax returns, W-2’s or paycheck stubs.
  19. Thou shall not complain about interest rates being lower on TV if your credit score is below 700.
  20. Thou shall not have NSF fees on your bank statements.
  21. Thou shall not open a new credit card account.


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What Folks are saying about Steve

Steve gives my clients the most thorough service I’ve seen.

He walks them through every step of the financing process and makes it easy to understand.

In these days of stricter loan guidelines, it’s especially important to understand the process and what your options are.

I highly recommend having your clients visit Steve before they look at at a single house.

Jo Ann Pumila


Southwest Funding LP (NMLS 32139) is an Equal Housing Lender. This is not a commitment to lend or extend credit. Programs, rates, terms and conditions are subject to change without notice. Terms and conditions apply. All Right Reserved. Steve Lanier NMLS 94837