Posted on October 4, 2018 - 12:57 PM
by Rachel Anker Johnson
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.
Working with Rachel to find and buy a home was a great experience and far exceeded my expectations. Rachel is very professional and accommodating. She is familiar with the local market and very responsive to calls/texts/emails at all hours. I would highly recommend her services.rgr33r