Posted on January 28, 2019 - 03:52 PM
by Jeff Lucas
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.
Jeff has helped us with selling our own investment homes and also located new homes for our portfolio. He's always been very knowledgeable and capable with helping us acquire new investments or find buyers of properties we are trying to sell. Thanks Jeff!user1364291