Posted on January 16, 2019 - 01:29 PM
by Cathy Ann Burrer
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.
Cathy Ann Burrer COLDWELL BANKER,
902 Coronado Blvd.
Universal City, TX 78148
Office: 210-483-6213 Contact Me
Your Universal City Real Estate Pro
My motto: We make a living by what we get, but we make a life by what we give.
Thanks for all your help in making our "dream home" a reality. We really appreciated that you went the extra mile to get us the best price for our home. You are truly a professional.John and Rhonda Robinson