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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 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.
Tahira Abdul- Rahman, BROKER, REALTOR
Phone: Office 318- 425-2707
Phone: Cell 318-840-4916
Member of IREM (Institute of Real Estate Management)
Listing and Buyers Specialists, Certified Military Specialist
GRI, E-PRO, Property Manager Contact Us www.shreveporthomes4u.com
Thanks for all your help in helping me to find the home of my choice. We really appreciated that you went the extra mile to get us the best price for our home. I will highly recommend you to my co-workers and friends. Angela