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Jacobs Real Estate of the Piedmont
1322 Piney Forest Road
Danville, VA  24540

Phone: (434) 793-4840
Toll Free: (800) 631-1894
Fax: (888) 773-0072
Email: jacobsrealestatesells@gmail.com

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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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