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Avoid Any Major Purchase of
Any Kind
Let that charge card cool off! The purchase
of expensive jewelry, lavish vacations, new furnishings, electronics,
vehicles, etc... can greatly affect your ability to qualify for a higher
loan amount.
The purchase of a car or boat can also play a role in
the amount you may qualify for by adversely affecting your "Income to Debt"
ratios. Your lender will ask about your income,
savings and debts including any other payments. (school loans, loans, credit
cards, etc...)
Lets face it - nobody
wants to hear "Had you not bought that new car or boat, you could have easily qualified
for this mortgage"
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