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.
Discover the essential strategies for marketing your home effectively to secure the best price.
Learn how to properly document your assets and verify your down payment for a smooth home buying process.
A comprehensive guide to understanding the various closing costs involved when buying or refinancing your home.
In addition to being pre-approved, it’s important to be pre-approved with a legitimate lender.
Understand how your FICO® score influences your mortgage approval, interest rates, and overall home buying power.
Discover why title insurance is a vital investment for homebuyers to protect their property rights and ensure peace of mind.
Demystifying the closing process: A guide to understanding title and settlement costs for your new home.
Learn the risks, the different types of foreclosures, and the essential steps to protect your investment.
Foreclosed properties are very likely to be burdened with overdue taxes, liens and clouded titles.
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