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.
Just bought another investment property with Tim O'Leary and he is the absolute best! He explains the process thoroughly at every stage and made the whole experience stress-free and easy. He is very professional and has a lot of experience. Tim knows all aspects of the real estate business and is able to give great insight about the homes that he shows since he is a licensed builder as well. I would highly recommend Tim to anyone looking to buy/sell a home. Thank you again Tim! Jonathan & Hanna Baird, St Joseph Michigan
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