Posted on March 22, 2019 - 08:19 AM
by Wible Realty
Don’t go on a spending spree using credit if you are thinking about buying a home, or in the process of buying a new home. Your mortgage pre-approval is subject to a final evaluation of your financial situation.
Every $100 you pay per month on a credit payment could cost you about $10,000 in home eligibility. For example, a car payment of $300/month could mean that you qualify for $30,000 less in a mortgage.
Even if you have accumulated enough savings, you should consider not making any large purchases until after closing. The last thing you want is to know that you could have purchased a new home had you curbed the urge to spend.
Paula did a great job finding our dream home! She had so many options for us to look at and really worked with our schedule. She gave us lots of options within our budget but also worked with what we were looking for. Latisha K.