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BUY A CAR - OR DID YOU ALREADY BUY ONE?
income grows and you want to buy "stuff"
When an individualís
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.
to spend money.
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.
the time home ownership has become more than a distant and hopeful
dream, you may have already bought the car.
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 didnít have this car payment,"
he might begin, "you would certainly qualify for a home loan to
buy that house."