Don't Buy a Car...

When Income Grows and You Want to Buy "Stuff"

When an individual's income starts growing and they manage to set aside some savings, they commonly experience what may be considered an innate instinct of modern civilized mankind.

The desire to spend money.

Since North Americans have a special love affair with the automobile, this becomes a high priority item on the shopping list. Later, other things will be added and one of those will probably be a house.

However, by the time home ownership has become more than a distant and hopeful dream, you may have already bought the car.

It happens all the time, sometimes just before you contact a lender to get pre-qualified for a mortgage.

As part of the interview, you may tell the loan officer your price target. He will ask about your income, your savings and your debts, then give you his opinion. "If only you didn't have this car payment," he might begin, "you would certainly qualify for a home loan to buy that house."

Learn more about Buying a Home

Download my FREE mobile app to get access to more than 4 million homes for sale

Download the KW Mobile App

Are you looking for a new home? Curious about what's for sale in your neighborhood? Want to find open houses nearby? The Keller Williams mobile app allows you free access to more than 4 million homes on the market.

Download on the App Store Get it on Google Play
MLS Equal Housing Member of Employee Relocation Council REALTOR CIPS CRS GRI SRES Luxury Portfolio Certified Distressed Property Expert

Links

Home
Contact Me
Homes
For Buyers
For Sellers
Jacksonville
Blog
Copyright © 2003-. BringYouHome.com is brought to you by Will Vasana, REALTOR®. All Rights Reserved.