Posted on May 29, 2018 - 12:01 PM
by Jesse Ramirez
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.
All information deemed reliable but not guaranteed. Copyright 2019 MichRIC, LLC All rights reserved. Copyright 2019 MichRIC, LLC All rights reserved.
The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than Crown Ridge Properties are marked with the BR logo and detailed information about them includes the name of the listing broker. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2019-02-21.