We recently encountered a couple considering their purchase
of their first home. Like many other first time homebuyers, they hadn’t yet
talked to a lender. When deciding on a certain house, THEN they decided to talk
to a lender about whether or not they qualified. Now, this is a usual
occurrence, but when they spoke with the lender, they found that one spouse had
good income and good credit, but the other had a good income…and not so good
credit. We’ll leave it to you to decide whether it was the husband or the wife
that didn’t have very good credit, but nevertheless, they now have to decide
whether or not to buy a less expensive home because of that lower credit score,
or to wait until the credit situation is “cleaned up”. This story is not
unusual, and it is a further example of why all buyers should meet with a
lender and be preapproved before
looking at homes that they may not be able to attain.
For more information, visit us on the web at www.springfieldfirsthome.com, or
simply call or text us at 417.872.9222.
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