Posted on February 7, 2019 - 03:21 PM
by Sondra Joyce
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.
“Sondra helped us buy a house sight unseen in rural Durango, Co.! She knew what we were looking for and found a foreclosure that would have been over a million dollars on the open market. She took videos and pictures on several occasions, and we made an offer that was accepted. I still tingle when I walk in the door. This is the most beautiful home and property in South West Colorado we have ever owned, and Sondra Joyce was our buyer broker, negotiator, realtor extraordinaire. She looked beyond the traditional MLS for homes for sale by owner, and foreclosures. We couldn’t be happier!”Kim Kelley