As we near the holidays, if you are wanting to become a homeowner in the next year there are a few things you should think about before you make your Christmas splurges that could have a major impact on your qualifying.

By the time you read this, hopefully I will have started and finished my Christmas shopping… yes, I am a bit behind. It has me thinking though, as I look at my children's wish list, the ads everywhere for everything you can imagine, and the costs of many people Christmas season; it has me thinking. I am thinking about the many clients I have been working with for weeks, months, or even years on a plan to become a homeowner and how in one season they could easily derail their plans by months or more. It also got me thinking about others, perhaps you, who have yet to have a planning conversation with a mortgage professional like me who will help make a plan for your goals which may result in making an avoidable honest mistake that sets back a purchase goal by months or more.

Here are three of my key suggestions to keep in mind this holiday season so that you don end up choosing Christmas over your own home:

1. Is the 15% discount really worth the impact to your credit score?

** New account, or even charging up cards your already have can negatively impact your debt-to-income ratio and your credit score- this could impact many things for a loan or even keep you from qualifying.

2. Is there enough money in your savings?

** Buying a house will require some cash out of your pocket, sometimes you may even have to have extra reserves leftover. If you deplete your savings, you may find yourself short before you have keys in your hands.

3. Taking a little holiday vacation?

**If you don’t have vacation time built up and frequently take unpaid time off, you may find your qualifying income being decreased to a lower average amount. Extra time off on the holidays and periodically throughout the year will show up in the average of your year-to-date income.

It is never to early to have a strategy call with a trusted mortgage professional like myself and know exactly what you need to do to qualify to buy a home. Even if you are not ready to buy today, knowing what is takes and having a plan tailored to your situation can empower you and take away the guess work.