Blog
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.
Related Posts
Understanding Preliminary Reports
After months of searching, you’ve finally found it -- your perfect dream home. But is it perfect?
Will you be purchasing more than j...
Statements of Information
What’s in a name?
When a title company seeks to uncover matters affecting title to real property, the answer is, “Quite a bit.”
Sta...
Build a Plan of Action and Get Ready
Buying a home will probably rank as one of the biggest personal investments one can make. Being organized and in control will contribut...
Where Does the Money Come From for Mortgage Loans?
In the olden days, when someone wanted a home loan they walked downtown to the neighborhood bank or savings & loan. If the bank had...
Lead Poisoning
Lead poisoning is a serious problem that can lead to adverse health problems. In children, high levels of lead can cause damage to the ...
Plan of Action
Analyze why you are selling - If you understand your motives, you will be able to better negotiate and to get what it is that you want,...
Is Buying a Home Still a Smart Plan
With the burst of the housing bubble, credit crisis, and millions of foreclosures across the country, you may wonder if buying a home i...
The Biweekly Mortgage – Who Needs It?The Biweekly Mortgage – Who Needs It?
Have you received an advertisement offering to save you thousands of dollars on your thirty-year mortgage and cut years off your paymen...
Title Insurance When Refinancing Your Loan
Lower interest rates have motivated you to refinance your home loan. The lower rate may save you a tremendous amount of money over the ...
Underground Heating Oil Tanks
Underground heating oil tanks can pose many potential problems to both home buyers and sellers. They have been the source of many envir...
For Sale By Owner – A Good Idea?
FSBO (pronounced fizz-bo), or For Sale By Owner, is a way of selling your home without the use of a professional real estate agent or b...
Hot, Normal, and Cold Markets
Hot Market
This is an extremely competitive market and is advantageous to the seller. Sometimes, homes will sell as soon as they are l...