Posted on February 18, 2019 - 01:29 PM
by Andy Erselius
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.
Very Helpful Agent
Andy is very good at listening to what we said our needs were. He showed homes that matched our needs and was honest with the details of each home. Andy was also very respectable to us, and of the homes we visited.— Dave and Delores McClenathan, Buyers