Back to Table of Contents

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.

Back to Table of Contents

DON'T MISS A NEW LISTING AGAIN!

Register Now

FREE AUTOMATED EMAIL UPDATES
Sign up to take advantage of our access to Listing Updates coming direct from the MLS. Contact us with your criteria and we will set you up with Free Automated Email Updates today!
*Contact Information is NOT Shared*

     

Cathy McWilliams | 585-393-9161 | Contact Me
1880 Rochester Road, Suite 200, Canandaigua, NY 14424
Copyright © 2017, All Rights Reserved

house realtor mls