Posted on February 4, 2019 - 11:28 AM
by John Macy
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 worked with John for several months and was able to find the perfect home in my limited budget in the area I most wanted to live. He was very good with communication, availability to show me homes, knowledgeable about the home buying process and excellent with negotiating. I would definitely recommend him to a friend or family. jjnixon3