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 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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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.
The answer is simple: The purchase of a home is most likely one of the most expensive and important purchases you will ever make.
How would you like a mortgage payment of only 1.95%? You can have all that with the 11th District Cost of Funds (COFI) Adjustable Rate Mortgage.
Lenders are not in the business of selling real estate and will often try to accommodate property owners who are having payment problems.
Many just walked away from their homes. As a result of these complicated issues, millions of homes were foreclosed.
With more than 20 years of experience in the greater Los Angeles Real Estate market, Larry Calemine has the experience and vision necessary to ensure the successful completion of your next Real Estate transaction. Larry’s vast knowledge of the current market and strong negotiation skills will assure anyone the best possible experience.
