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Why You Should Not Make Any Major Credit Purchases

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.

Work With Jeff

He served his community for years through volunteer work, including being a past member of the Reston Bike Club Board of Directors, which provides helmets to kids, supports a variety of programs for the local high school, and advocates for safe cycling in Reston and surrounding communities. In his history of giving back to to his community, Jeff also volunteered with Fairfax County's Adapted Aquatics program and local Special Olympics chapter.

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