Posted on September 27, 2018 - 09:27 AM
by Tom Phillips
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.
Thanks, Michelle! Being part of the Phillips real estate family has been a great experience. This experience started when I received the call from you. You called within minutes after I completed talking with Homelight. You were very professional yet approachable and energetic but not pushy! We found the same qualities in Jordan. We have really enjoyed working with him.
Thank for all your help. If we hear of anyone moving to the Austin/San Antonio area, we will highly recommend Phillips!