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Why You Should Not Make Any Major Credit Purchases When buying a home, your mortgage pre-approval is subject to a final evaluation of your financial situation.
Every $100 you pay per month on a credit payment could cost you about $10,000 in home eligibility. For example, a car payment of $300 per month could mean that you qualify for $30,000 less in a mortgage.
Even if you have accumulated enough savings, you should consider making any large purchases after closing.
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