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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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John T. Ferreira & Son, Inc.
500 Centre Street
Fernandina Beach, FL 32034
904-261-5571
800-940-8951

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Amelia Island Homes for Sale. Search Amelia Island MLS. 
Amelia Island REALTORS® CENTURY 21 John T. Ferreira & Son, Inc.
500 Centre Street Amelia Island Fl 32034 
Serving Amelia Island, Yulee FL, and Fernandina FL 

©2018 Century 21 John T. Ferreira & Son, Inc. All rights reserved. CENTURY 21® and the CENTURY 21 Logo are registered service marks owned by Century 21 Real Estate LLC.  Century 21 John T. Ferreira & Son, Inc. fully supports the principles of the Fair Housing Act and the Equal Housing Opportunity Act. Each office is independently owned and operated. Any services or products provided by independently owned and operated franchisees are not provided by, affiliated with or related to Century 21 Real Estate LLC nor any of its affiliated companies.

 

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