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.
Tabitha Turner, along with her partner Zach Gilman, helped make our house hunting experience a true pleasure from start to finish! Tabitha was incredibly responsive to emails and phone calls, and was always willing to go the extra mile. I am happy to say that not only did we find a house we LOVE, but we also found new friends that we enjoy spending time with!N. Inman