When you are buying a home, you may need a large sum of money as fast as possible to pay for big ticket items. If you are planning on getting a loan to help you cover the cost, it is important to keep in mind that you may not qualify, and if you do, it will be very expensive to pay back. Make sure to ask yourself these questions to ensure that you do not get locked into a loan that you do not actually need.
- How much money do you need? Make sure to seriously think about what you want to buy, and make sure that you actually need it.
- Do you really need cash? If you are buying something that could be paid for with a credit card, reconsider the loan. Credit card companies typically have lower interest rates and no time limit to pay off the purchase.
For any questions or concerns you have about your finances when buying or selling your home in the Northern San Diego area, contact The Alan Shafran Group.