REAL TipS: BUYING
Don't buy it
If you've chosen the perfect home and been approved for a loan, refrain from making another major purchase until closing is complete. A major purchase like a shiny new car can change your debt-to-income ratio, reducing the amount of income available to pay the monthly mortgage. This change in available income might lead the lender to believe you can't afford to purchase the home. If a major purchase is unavoidable, talk to your lender before you do it.
Texas Association of Realtors®
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