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March 09, 2006


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When we bought our first house *mumble* years ago, both our realtor and our mortgage broker told us that we could qualify for a mortgage 35% bigger than we were looking to spend on a house. At the time I replied that I wanted money left over to furnish the place too. Not taking out a larger loan than you want to buy a bigger, more expensive house than you want is a good enough reason not to take the bank's word on how much to borrow.

As it turns out, there is another, better hidden reason. Searchlight Crusade explains it very well in an article that explodes the myth that "All Mortgage Money Comes From The Same Place". I found that site throught the March 6th Carnival of the Capitalists, hosted right here.

Oops. The links in my previous comment got lost. You can find the article "All Mortgage Money Comes From The Same Place" at

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