Making Large Purchases on a New Loan - Most home buyers are excited to buy furniture and other large purchases once they started the home-buying procedure. Although lenders would say each situation is different and will depend on the type of loan and the lender's policies, it is a common knowledge that anything that changes your debt-to-income ratio may risk your loan.
Aside from making large purchases on a credit card, other debt-to-income game changers include opening new lines of credit, making large withdrawals from bank accounts, making large cash deposits or change your current job status.
Even with your closing date is right around the corner, it is highly advisable to wait on making large purchases like buying furniture until after you’ve closed the sale of your new home. Or if there really is a need to make large purchases, consult your lender or a mortgage professional first.
For more tips in home-buying, you may reach Lora Reynolds of Indy Homes Realty Group on 317-496-6291 or email@example.com.
The buyer/seller and agent relationship is based on trust, shared goals and understanding. We are constantly striving to improve.
One of the ways that we do this is to listen to our clients and to always take their needs/wants into consideration. Our clients always make their own decisions based on all the "homework" we do as well as the expertise that we can bring. We walk them through the process every step of the way and protect their best interest at all times.
We believe that it is our duty and honor to serve our clients with the most valuable service that we can provide.
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"Lora was awesome! We had a crazy schedule and would ask to see places last minute and she worked around it and never complained once! She was very knowledgeable and helped us out all the way through the process. user7638680, Bought a Single Family home in 2013 for approximately $125K in Noblesville, IN."