Got your eye on that new furniture for your future home? Thinking about opening a store credit card to save 20%? Stop right there. In this episode of Home Buying Made Easy, we explain why opening new credit lines during the home buying process can literally cost you the house.
We break down what happens behind the scenes when you apply for new credit - how it affects your credit score, changes your debt-to-income ratio, and triggers red flags with your lender. We also cover what counts as "new credit" (it's more than you think).
Whether you're just starting your home search or already under contract, this episode will save you from making a costly mistake that kills your loan approval.
If you want to learn more or have questions about your specific situation, reach out to our team - we're here to help