Posted on August 6, 2018 - 11:30 AM
by carl gresen
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 have bought and sold and total of 4 properties with Carl Gresen and his team. Both of the homes we sold went smoothly and we got what we needed in order to sell. We saw a lot of homes and they never were impatient with us. The last home we bought we got a great deal and we are thrilled. Thanks Carl! nlynch654