Hey, future homeowners!  Ever wondered how that flashy car in your driveway could impact your dream home purchase. Buckle up because I have a financial twist that might actually reshape your home-buying journey.

Reduced Borrowing Power: Higher monthly debts mean less money available for your mortgage. In fact, for every $100 in monthly debts, your buying power can drop by up to $10,000. That $700 monthly car payment could reduce your home-buying power by $70,000 to $100,000.

So, what’s the takeaway? Before you rush to the dealership, hit the brakes and think about the bigger picture. Your dream home might be within reach, but that car payment could be a major roadblock.

Remember, every financial decision today impacts your homeownership dreams tomorrow.

I would be happy to answer any mortgage related questions. Please email elenab.mortgages@gmail.com or DM (647-945-3681) for personalized advice! Let’s make your homeownership journey a winning one.

Click here to book a Mortgage Discussion with Elena.

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