Posted on July 30, 2018 - 11:09 AM
by Judy Rossignol
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.
We have done business with Judy since 2003 and she has handled multiple transactions as we purchased, sold then purchased again our bit of paradise in the Keys. I would recommend anyone to Judy. Finding our new island home was always a rapid, effective, targeted purchase for a fair price and then was guided through the closing knowing the unique issues of Keys homes.