Houston Credit Repair expert Vanessa Perry explains what NOT to do before purchasing a home. Check it out in the latest episode of Ask Impeccable below.
Do Not Do this Before Buying a Home:
- Do not open new lines of credit.
Opening new credit cards is only going to hurt you. Not only will it knock. down your score it will also adjust your debt-to-income if you charge them up.
- Do not buy a new car.
Buying a new car will. do the same as opening new credit trade lines. You can prepare to buy a car while getting ready to buy a house, but wait until the day of closing on the house to purchase the car. Our suggestion is to do it right after closing same day.
- Do not finance new furniture.
Financing new furniture will also throw off your debt-to-income and lower your credit score. Pick out what you want and wait until after closing to finance. Same day is best or furnish room by room as you set up your home. It maybe easier to move in a little later in order to have everything set up before move in.
How will it effect your credit score?
All of the above will hit your credit score like.a ton of bricks. Do yourself a favor and plan accordingly. Buying a home is a process. Keep in mind they will pull your credit one last time at closing to ensure everything is accurate. If you are not quite at the home buying process yet, you may want to consider a credit repair expert.
Houston Credit Repair
Impeccable Credit Services has been in business for 18 years. They are an award winning credit repair company. Along with many years of experience, the owner Vanessa Perry was also a loan officer before fixing credit. She sets up all of her clients for home buying success. If you have any questions on repairing your credit feel free to contact us 713-378-1500.