Posted on March 18, 2019 - 05:00 AM
by Kathy Stenberg
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.
"Kathy is a wonderful broker. We came to Colorado Springs from out of state on a home searching trip and Kathy showed us the home we ended up buying. She is a knowledgeable professional, answering all our questions and concerns. The brokering with the bank was handled well; Kathy worked as a good go between. We always felt we were in good hands and that our concerns were addressed in a timely manner. Our closing went well. We love our home. Kathy Stenberg can be trusted to work with you on all your real estate needs ~ 2011"Kathaleen & Thomas Clifford, Client
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