“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



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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


Good morning Joe. Funny how that goes. Some things never change. Glad your clients asked again.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) about 3 years ago

Good Morning Joe Petrowsky 

I cringe to even think of it as a recent buyer I had for a listing went out and co-signed not 1 but 2 auto loans for their children. It changed their debt to income ration and were denied the loan

Posted by Doug Dawes, Your Personal Realtor® (Keller Williams Realty - Topsfield, MA) about 3 years ago

This is the kind of advice that should be pasted on the mirror in the morning so buyers see it as they brush their teeth every day. It is that important

Posted by Lise Howe, Assoc. Broker in DC, MD, VA and attorney in DC (Keller Williams Capital Properties) about 3 years ago

I learned this early on in my career when before a closing a first time buyer went about bought furniture on credit which is easy to get.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) about 3 years ago

In our many years of working as full time real estate pros, we have only had one time our buyers did not pay heed to our advice. YUP! They had to return all the new furniture they bought before the underwriters would approve their loan.

Posted by Sandy Padula and Norm Padula, JD, GRI, Presence, Persistence & Perseverance (HomeSmart Realty West & Lend Smart Mortgage, Llc.) about 3 years ago

Great advice! You can't say it enough! I was just doing a walk through with my buyers a few days ago and they asked the floor man and a home kitchen conractor to meet them at the house for the final walk through. I was sure glad to be in ear shot of the floor guy when he said, do you want to give me your credit card to put it on order? I must have shot dagger eyes at his spouse because she said in a loud voice - No! We can't charge anything until after we own the house. With that said, Mr. Seller took his hands out of his pocket and put his wallet back. 

Posted by Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives (DFW FINE PROPERTIES) about 3 years ago

Hi Joe!  I have weekly reminders that I email to each buyer who is under contract.  They are humorous and have pictures of items that people love to buy before closing - they have huge red x's through them.  You only have to lose one sale because of a pre-closing purchase to understand how serious it is.

Posted by Marnie Matarese, Showing you the best of Sarasota! (DWELL REAL ESTATE) about 3 years ago