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.
Dear Paradise Properties,
We just wanted to take a minute and say thank you very much! My wife and I found your company on the internet by chance as we were looking to book a summer vacation on Torch Lake. On Jill's excellent recommendation, we booked a condo on Clam Lake for the third week of August 2009. The unit was spectacular, completely remodeled and very clean.
Another goal of our vacation was to learn more about the area and begin looking for a vacation home. By the end of the week, we had narrowed our search down to Clam Lake for many reasons including its access to Torch Lake. As it turned out, we found a very nice cottage on a perfect lot. After returning home and doing much more research we decided to pursue the opportunity and started working with Gary on the details.
Because we live six hours away the process was much different than other real-estate transactions we have been involved in. Gary's ideas, guidance and amazing follow through were second to none. At every turn or road block, Gary had the perfect solution or resource. Based on his tremendous experience and knowledge of the area the end result turned out great and we were able to accomplish a long term goal. I look forward to working with and referring Gary and Paradise Properties when ever possible.
Thank You So Much,Todd & Laura Wilcox