Make Sure that you do 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 your 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. It's much easier to get the car loan after you bought your house, then it is to get your house loan after you bought a car!

Even if you have accumulated enough savings, you should considering not making any large purchases until after closing. The last thing you want is to know that you could have purchase a new home had you curbed the urge to spend.

In addition, if you are thinking of changing jobs, bite your tongue and wait until after you have sat down at the closing table! Changing employment could jeopardize that home loan!

Call us toll free with any further questions at (877) 901-1551 and happy house hunting!

 

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