Can major spending before your refinancing hurt you in the long run? Absolutely. Major spending, whether that be new investments or sudden shopping sprees, can cause major fluctuation’s in your credit information, your income situation, as well as your dependability as a paying customer. Naturally, all three of those elements can make getting a loan more difficult, especially in our current loan market. But how does spending hurt your refinancing? It can be narrowed down to three main effects.
While all three of these elements can be avoided with smart spending and proper budgeting, here at Choice Mortgage Bank, Inc., we can ensure you the best rate regardless of your financial situation. Don’t let your money hold you back from a refinancing miracle. Schedule your consultation today, and we can get you started!