Buying a house? Don't make this mistake
This is a story about Joe, but Joe can be anybody, even you.
Joe was happy. He had a good job, a fiancee, and a beautiful, loyal black lab. Joe's bride-to-be had a promising career and all she ever wanted was a house to call her own.
Joe got approved for a mortgage to buy a nice, little starter home. His fiancee was already making plans for the baby's room when their offer was accepted. Then Joe made a big mistake. Joe bought a boat.
In the middle of buying a home, he applied for a line of credit, got approved, bought a boat and used a portion of his down payment thinking he would still be fine. Joe even got lured into opening a new account at the credit union to get a special interest rate.
Joe just made the top five worst mistakes you can make during the process of buying a home:
1: He made a large purchase.
2: He opened a new line of credit.
3: He opened a new bank account.
4: He withdrew a large sum of money from his bank.
5: He didn't talk to his fiancee about any of it until he pulled up with a boat.
Joe is now single, living in his parents' basement and even his once loyal dog left him. Listen to your mortgage broker and your real estate professional when they say don't make any major financial decisions during the process of buying a home.
Don't be like Joe.
Lic # 870300066