Posted on August 20, 2018 - 12:27 PM
by George Herring
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.
What a Realtor:
"We met George Herring at an event a great while back. Over the last year the real estate market really started to favor the home buyer. My wife and I contacted George (the RE/MAX Agent) on a whim to take a look at the market in the Collin County area for a New Home. We really weren’t that serious but George Herring took the time to drive us from McKinney to Frisco showing us new homes.
After spending months with us looking at everything under the sun, he took us to this splendid home in north Plano. I must say we are not Plano people and quite frankly we made fun of them after spending the last 20 years in the DFW Airport area. However, this home and neighborhood was for us and the price was bad either.
We now have great neighbors, close to great shopping, and I’m only 20mins from the office... I guess you can now say we are now “Plano” people and it’s really not that bad…
Thank you George, the experience was second to none."Johnny and Debra, Plano Texas