if you are getting a loan, and lets say that you qualified for a $150,000.00 home but the banker tells you qualified for a $225,000.00 home. i would strongly take the $150,000.00. the reason for this is because a lot of loan officers did this, and they are the reason for the meltdown in the financial area this past fall-winter. they got to greedy, gave more money to people then what they really should have gotten and now many people lives are screwed up as well as the housing market crashed. Play it smart and save your self money for a rainy day.
+1
When we bought ours, we calculated to not buy a house more expensive than what could be covered entirely by existing retirement check, and entirely ignored the pre-qualified amount the bank stated.
