4 Things You Shouldn't Do When You're Buying A Home

1. Don't Make a Major Purchase
You've just found out your credit is A+. That's great news,
because a new car would look fantastic in the driveway of your
new home. But hang on--if you are depending on a mortgage to
move in, you'd best wait until after closing to buy the car.
An increase in your debt to income ratio reduces the amount of
monthly income available for your mortgage payment. If you tack
on a higher car payment, the bank might decide you cannot afford
the home.
Using cash to purchase the car could also create a problem,
since banks consider cash reserves when approving your
mortgage. If you make a major purchase before closing, talk to
your loan officer before you do it.
2. Don't Change Jobs Unless It's View the rest of this article