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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We cannot say enough great things about Lana Beams as our realtor and friend. We were blindly moving to Magnolia for work and Lana happened to be the realtor to show us a few houses. She was so helpful in showing us homes and places in the area. She went above and beyond to make sure we felt welcome to Magnolia. She told us positive things about the community while helping us find our dream home. She was extremely patient as we asked numerous questions-too many to count! She was prompt in answering questions and getting things done-we never had to question what she was doing or what we needed to do. We were first time home buyers and she held our hand the entire process. We also loved that she was respectful of the sellers of each home even when many were not her listings. She also was patient as we brought our kids along! Lana was our first friend in Magnolia! We would recommend Lana to anyone who is buying or selling a home! Ben and Sheffield Coulter