As a matter of fact, yes, the holiday’s can ruin a home purchase.  You may be asking how–so let’s take a look!

Christmas Season is magical in many ways.  Whether you are an online shopper, a black Friday shopper, or prefer to browse through the stores, there is something wonderful about finding the right gift for the right person.

With this in mind it can be very tempting to accept that new credit card, with the bigger limit, so the shopping can continue, or to keep your budget but still have a great Christmas.  This will, however, potentially affect your debt-to-income ratio, and could make getting a mortgage difficult.

Depositing, or transferring, large amounts of money.  This will always give a red-light to lenders.  If you have been with a company for many years, for example, you may know that there will be an end of year bonus–so borrowing from one account to help another account may seem reasonable–but a lender may not view this as reasonable, and they do not care about anything but what they can verify.

Cash, and spending habits.  Perhaps that bonus did come through, and perhaps you believe that cashing that check is the better course of action, but your income will have a disparity when compared to banking statements, which can lead to more questions.  The best bet is to keep spending habits the same, and deposit all cash or unanticipated money.

Remember, if you find yourself moving during the holiday season keep the above in mind, but remember to consult your mortgage professional, they will know the best path for you!