BUYER/SELLER TIPS

Helpful Tip for a Buyer

Your budget and spending habits.

When you are ready to purchase a home, your income, debts and credit all play major parts in your process to buying a home.

If you are considering buying a home, don't buy any major purchases with credit. Wait until after closing to look at buying that new car. As a general rule, every $100 you pay per month for a credit account could mean $10,000 less of home purchase ability. For instance, that new car payment could be $400 per month. That could mean that you lose $40,000 that you could have qualified for in a mortgage.

Even if your savings is adequate, wait to make any large purchases until after you close on your new property.

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