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Buyer Tips - Credit Purchases

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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 your 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 considering not making any large purchases until after closing. The last thing you want is to know that you could have purchase a new home had you curbed the urge to spend.

Buyer's Tips
Avoiding Financial Stress
Use a Buyers Agent
Don't Make Major Credit Card Purchases
Be Careful of the "Dual Agent"
Finding the Right Seller
Importance of Inspection
Getting a Legitimate Lender
Be Wary About the Listing Agent
Hot, Normal and Cold Markets
Build a Plan of Action and Get Ready

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