Posted on January 25, 2019 - 12:09 PM
by Meryle Sussman
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.
Having Meryle as our agent was one of our best decisions. She is knowledgeable, approachable and very responsible. We found her 'on-top' of all the procedures and she explained the details very clearly and thoroughly. She understood our concerns and ideas about what we were looking for in our home, and best of all she was a lot of fun to work with.M.S. & P.K. Los Altos