By Carla Olivo, PCSgrades Director of Strategic Communications
Buying a home is typically the single largest purchase a person or couple will make in their lifetime. And it is often a complicated process with terms or concepts that you might not be familiar with; pre-qualify, pre-approved, closing costs, points, title insurance, escrow.
One thing that is vital to understand when buying a home is your credit profile. This is what lenders will look at to see your history of borrowing and repaying loans, and your current level of debt and other financial commitments.
It’s important to note that even though you may be approved for a mortgage, your lender will check your credit profile again just before settlement. It’s vital that you maintain your credit rating right through the settlement on your new home.
Here are a few Do’s and Don’ts
Do hold off on buying a car or making any other major purchases. Resist buying new furniture to go with the new house. You may be more than able to afford the purchase, but a major change in your savings or your debt load could impact your mortgage application.
Get more "Do's" and the "Don'ts" at the original location: http://blog.pcsgrades.com/dos-donts-buying-house/
