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Recent house purchase

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Established Contributor

Re: Recent house purchase

Congrats! I'm looking to do the same in a few years



Message 11 of 16
Super Contributor

Re: Recent house purchase


@Caramelhunnyva wrote:

First time home buyer here, any advice you guys can share?


My advice: don't EVER borrow against your home.

 

Everyone and their brother will be pressuring you to go for second mortage, get home equity line of credit, 'unlock the equity in your home', etc.

 

Don't EVER do it. Your home is your home.

 

Just pay off your mortgage and be happy.


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 12 of 16
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Established Member

Re: Recent house purchase

thank you. That sounds like very sage advice. 

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Current Score: 640
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Message 13 of 16
Established Member

Re: Recent house purchase

Your credit scores are in a much better place than mine were, so I know its very possible.  Its definitely a nerve wrecking process, but its rewarding when I think of the progress I made to get to this place.

Starting Score: 499
Current Score: 640
Goal Score: 850

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Message 14 of 16
Super Contributor

Re: Recent house purchase


@Caramelhunnyva wrote:

First time home buyer here, any advice you guys can share?


Oh, another piece of advice:

 

resist the temptation to fill your house up with stuff.

 

Once you own a house it's easier to accumulate stuff. Remember that all stuff

is a weight around your neck... something that has to be some day (a) moved, (b) sold,

(c) given away, (d) stored, or (e) thrown out.


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 15 of 16
Established Member

Re: Recent house purchase

"Remember that all stuff is a weight around your neck... something that has to be some day (a) moved, (b) sold,

(c) given away, (d) stored, or (e) thrown out".

 

 

This is great advice for someone that has the potential to hoard. My greatest fear is to be like those folks on the show, so I try to maintain some control.  Thank you for the perspective!

 

Starting Score: 499
Current Score: 640
Goal Score: 850

Take the myFICO Fitness Challenge!
Message 16 of 16
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