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.Back to Table of Contents
© 2019 RealTracs Solutions. All rights reserved. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange Program of RealTracs Solutions. Real estate listings held by brokerage firms other than Benchmark Realty, LLC are marked with the IDX logo and detailed information about them includes the name of the listing broker. The information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that the consumer may be interested in purchasing. Information is believed to be accurate, but not guaranteed. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2019-04-19