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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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Doreen DeMarco  
ABR® SRS® SRES® RENE® PSA® GREEN®

Broker Sales Associate

Gloria Nilson & Co. Real Estate
963 Holmdel Road
Holmdel, NJ 07733
732-946-3200
732-241-5015 cell/text

ddemarco@glorianilson.com
www.DoreenDeMarco.com
NJ REALTORS® Circle of Excellence Sales Award® 
2018 Gold, 2017 Gold, 2016 Gold, 2015 Silver, 2014 Bronze


Designations and Certifications:
ABR®       Accredited Buyer's Representative
SRS®       Seller Representative Specialist
SRES®     Seniors Real Estate Specialist 
 
RENE®     Real Estate Negotiation Expert
PSA®        Pricing Strategy Advisor
GREEN®   GREEN REsource Council 

 

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