Don't charge up a storm before buying home

Sometimes home buyers think they'll be able to get away with making a large purchase just after they've been approved for a mortgage.

But charging up a ton of debt on your credit card before you've closed on your new home isn't a smart move. In fact, all that debt could sink your mortgage application and kill your real estate deal.

When home buyers go to get approved for a mortgage, the lender takes a snapshot of their financial life. The lender pulls a copy of the borrower's credit history and credit score, and then looks at bank account statements and tax returns.

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