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.
*Terms & Conditions apply based on Lexus IS250 premium package. With the successful purchase or sale of a property of $1M and higher with Elita Realty,Inc. Two years of lease payments will be paid by Elita Realty, Inc. at the closing. Subject to credit approval of Lexus Financial. Valid only at Lexus of North Miami and Elita Realty, Inc. Elita Realty, Inc. is exclusively responsible for all obligations presided to this advertisement. All trademarks and intellectual property rights belong to the irrespective owners and holders, use of them does not imply any affiliations with/or endorsement by them. Other terms and conditions may apply.