Home buyers---don't go on a spending spree using credit if you are qualifying to purchase a home. Your loan pre-approval is subject to a final evaluation of your credit report just a few days prior to closing. Every $100 you pay per month on a credit payment could cost you about $10,000 in home eligibility ie. $300 car payment could mean that you qualify for $30,000 less in a mortgage. Even if you have sizable savings, don't make any large purchases until after closing. The last thing you want to happen is to have your loan declined and lose your new home.
Linda Shank Linda Shank and Company is a 32 year real estate veteran in Phoenix's Southeast Valley. Contact her at www.ISellAZSunshine.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment