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.
This is the second time I have used John & Lisa Lowe as my realtors. They helped me buy my home in Tampa a few years ago and I recently decided to take a job in Sarasota. I needed to sell my home quickly in order to relocate and get my kids settled into their new schools. John and Lisa got my home staged & professionally photographed right away and they showed me how their marketing would bring me an offer quickly. Bottom line, my home was only on the market for 7 days and they made everything very easy all the way up to the closing. After having used John Lowe Group twice I can say they consistently give a 5 star experience.Jessica Simone, Sarasota, FL