“Major Purchases Prior to Buying a Home”

           “Major Purchases Prior to Buying a Home”

 

 

 

Hey Joe

Just a quick question for you, I know I'm not supposed to make any major purchases during the mortgage process. Should I wait to buy a car after we close on a new house? AC crapped out in my car of course when I'm moving to Florida.

 

The simple answer most of time would be DO NOT make any major purchases prior to buying a home. When I say most of the time, the new payment will affect the debt ratio but if the income is strong enough a new purchase like this won’t matter.

 

Unfortunately a lot of clients react quickly and might go ahead and buy the new car even though I have already recommended “NO Large Purchases”.

 

In this case however it would have been a problem so I recommended that this type of purchase be made after the home closes. They are going to do just that and wait.

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

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Comment balloon 7 commentsJoe Petrowsky • May 17 2017 06:42PM
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