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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 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.
Even if you have accumulated enough savings, you should be considering 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.
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Southeastern Massachusetts Discount Real Estate
Assist 2 Sell Buyers and Sellers Preferred Realty
In Mansfield: 508-339-0096 In Bellingham: 508-966-2100
Serving Mansfield, Norton, Foxboro, Attleboro, North Attleboro,
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Information herein is deemed to be accurate, but not guaranteed, and should be verified.
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