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.
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Just a Quick note to thank you for a job well done.
Both Betty and I appreciate very much your pleasant and professional attention to the sale of our townhouse. Our experience with some of your competitors left much to be desired, but once we placed our home for sale with you, things began to happen.
Thanks again, and our every wish for your continued success.