Posted on October 16, 2018 - 05:00 AM
by Lee Wolff
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.
I would highly recommend Lee - he is honest, hard working and always puts the client first. He helped me so much in what was an emotional experience for me in selling my home of 26 years. Best of all, his approach to giving back and saving clients on real estate commissions, without compromising service, is unprecedented in the industry!Susan Hoyt