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.
No comments:
Post a Comment