|
Suppose
you
earn
$5000
a
month
and
you
have
a
car
payment
of
$400.
At
current
interest
rates
(approximately
8%
on
a
thirty-year
fixed
rate
loan),
you
would
qualify
for
approximately
$55,000
less
than
if
you
did
not
have
the
car
payment.
Even
if
you
feel
you
can
afford
the
car
payment,
mortgage
companies
approve
your
mortgage
based
on
their
guidelines,
not
yours.
Do
not
get
discouraged,
however.
You
should
still
take
the
time
to
get
pre-qualified
by
a
lender.
However,
if
you
have
not
already
bought
a
car,
remember
one
thing.
Whenever
the
thought
of
buying
a
car
enters
your
mind,
think
ahead.
Think
about
buying
a
home
first.
Buying
a
home
is
a
much
more
important
purchase
when
considering
your
future
financial
well
being. |
