With Ben Lucero at Indigo Mortgage
If you’re thinking about buying a home or refinancing in New Mexico, there are certain rules you absolutely need to follow during the mortgage process. At Indigo Mortgage, Ben Lucero often refers to these as the “10 Commandments of Getting a Mortgage.”
These aren’t just suggestions. They’re the real-life do’s and don’ts that can determine whether your loan closes smoothly — or gets delayed (or even denied).
As outlined in the original “10 Commandments of Getting a Mortgage” document, here are some of the most important ones every borrower should understand.
1. Thou Shalt Not Take on New Credit During the Loan Process
This is the #1 commandment for a reason.
When you apply for a mortgage, your lender pulls your credit and evaluates your debt-to-income ratio. If you suddenly:
- Buy a car
- Finance furniture
- Open a new credit card
- Co-sign on a loan
You can completely change your financial profile.
Ben Lucero always advises clients at Indigo Mortgage:
Do not open, close, or modify any credit accounts until your loan has closed and funded.
Even something that seems small — like financing a new couch for your future living room — can delay or derail your approval.
2. Thou Shalt Not Change Jobs Mid-Application
It may seem harmless. Maybe you’re getting a raise. Maybe it’s a better opportunity.
But during a mortgage process, employment stability matters.
As noted in the original commandments, changing jobs in the middle of your loan can:
- Trigger additional underwriting requirements
- Cause major delays
- Result in loan denial in certain situations
Lenders verify income and employment more than once before closing. If your employment changes unexpectedly, it can create complications — even if your new job pays more.
Ben Lucero recommends talking to him before making any employment changes if you’re in the middle of buying a home.
3. Thou Shalt Not Use Cash (Without Talking to Your Loan Officer First)
Cash is one of the biggest misunderstandings in the mortgage world.
Many buyers believe that cash saved at home — sometimes called “mattress money” — can simply be deposited and used as a down payment.
But as explained in the original document, large unexplained cash deposits are not acceptable due to anti-money laundering laws and federal compliance requirements.
If you:
- Keep savings in a safe
- Receive large cash gifts
- Plan to deposit physical cash before closing
You must speak with your loan officer first.
At Indigo Mortgage, Ben Lucero helps clients properly document funds to ensure everything complies with underwriting guidelines. The worst-case scenario is finding out right before closing that your funds cannot be used.
Why These Rules Matter in New Mexico
In markets like Albuquerque, Rio Rancho, Santa Fe, and surrounding communities, timing is everything. Homes move quickly, and financing needs to stay on track.
When you work with Ben Lucero at Indigo Mortgage, you’re not just getting a rate quote — you’re getting guidance through the entire process.
These commandments exist because small financial moves can create big underwriting problems.
The goal is simple:
Keep everything stable until the loan closes.
Where to Find the Full 10 Commandments
Ben Lucero and the team at Indigo Mortgage have posted the complete list of the 10 Commandments on their website under the Resources tab.
It’s one of the most visited links on the Indigo Mortgage website — and for good reason. Buyers want clarity, and these rules provide it.
Before you:
- Apply for a mortgage
- Start house hunting
- Refinance your current home
Review the commandments so you know exactly what to avoid.
Have Questions? Contact Ben Lucero at Indigo Mortgage
If you have mortgage-related questions — whether about buying, refinancing, forbearance, or simply preparing your finances — Ben Lucero is available to help.
The best way to get started is to contact:
Ben Lucero
Indigo Mortgage
Ben and the Indigo Mortgage team work with borrowers across New Mexico and are committed to making the process smooth, transparent, and stress-free.