HOME BUYER TIP: Don't buy that new car!

Don't buy a new car if you want a new house! Did you know the amount of home you can qualify for is based on your debt to income ratio? If you're in the process of buying a home the last thing you want to do is add any more monthly payments to your name. It can dramatically decrease how much home you can afford. People have lost their financing after having a home under contract because they went out and bought a new car before they closed on their new house. When they lost their financing, they lost the house. You want to avoid this type of disappointment so be sure to speak with your lender before taking on any new debt. You'll be glad you did!

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