Why You Should Not Make Any Major Credit Purchases
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.
We found Friend Wells knowledgeable, and eager to show us many possible homes until we finally found just the right home for us. He also saved us a couple of thousand dollars in the negotiation
process! Most of all, it was a great relief to know that he is a man of character, so we could be confident that he was doing his utmost to help us and not looking out for anyone else's interests. I have
complete confidence in his integrity.Rick & Linda T
* Fee varies for homes over 250K. Call for details. 6% used for comparison purposes only. Commissions may be negotiable and are not established by law. Each Office Independently Owned & Operated. The information herein is deemed to be accurate but not guaranteed. All information to be verified.