Welcome or Register
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

I am a GEEK and I have designed this site for folks who want fast & accurate answers in 2 clicks or less!

You are welcome here without ever divulging any personal information. But, if you do decide to use some of my tools that require an email address...  I will work hard to remain a welcome guest in your inbox !

Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu