Published March 29, 2023

Buyer Tip: Don't Finance Any Large Purchases

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Written by Rhonda & Tony Gustitus

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Many people want to finance large purchases like furniture, appliances, and even cars when they are purchasing their home. It is best to wait until after you have closed on your new home to finance any other purchases so it doesn't affect your home loan. How much you owe will affect how much you can borrow. Financing a large new purchase before you get a mortgage reduces the amount lenders are able to loan you. This can also negatively impact your credit score since you are increasing your credit utilization and lowering your available credit.

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Buying a home, Wait, Finance
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Rhonda & Tony Gustitus

| The Rhonda Gustitus Team | Keller Williams Peace River Partners

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