Why You Should Not Make Any Major Credit Purchases
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 recently bought property in Pamplico with the help of my agent, Bob Crosby. I wanted to share how very professional, personable, and very helpful Bob has been. Living 500-miles or so away from the area we bought in was definitely a challenge for my wife and I. Bob made this a very easy transition in buying our first piece of property. I want to thank the Barry, Broker in Charge, and the staff at Weichert for your professionalism. When I had questions, Bob never let 5-minutes go by withouth a reply, so thanks for the prompt responses when I had questions. Thank you again for helping me. We are excited to begin a new chapter in our lives, and we have Bob and Weichert Realtors® - The Freedom Group to thank. Bob is definitely an asset to your company. Dean D'Adamo