Why You Should Not Make Any Major Credit Purchases

Tips for Buyers Candice Signa February 13, 2020

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.

Work With Candice

My service areas include Santa Ynez Valley and Santa Barbara County Central Coast region of California including Santa Barbara, Solvang, Buellton, Santa Ynez, Goleta, Los Olivos, Lompoc and Santa Maria. My areas of specialty are newcomers to Santa Barbara County, Trust and Trustee sales, first-time home buyers, those who are looking to sell and buy simultaneously. I aim to take the stress out of all of those situations! I am also an area specialist in the town of Buellton, where I have resided for over 20 years.