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The key to this type of analysis is that the value of the home next year is unpredictable. Most people in March 2020 as the United States was shutting down due to COVID expected that as inflation hit, many business shuttered, millions lost their job; that home sales would plummet, and home prices would drop in order to allow people to sell that had to sell. ...


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Being pre-approved for a $300k mortgage does not mean you can borrow that much regardless of what house you buy! The reason the interest rate is so low is that the loan is secured by the house (and often backstopped by the government). The lender will require an appraisal to ensure the house is worth more than the loan amount (i.e., you have positive equity),...


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The lender will have an appraisal done on the home and will only approve a mortgage that is in line with the value determined by that appraisal. Assuming you are paying market value for the home, the lender is not likely to approve a mortgage that is significantly higher than that. From Can you get a mortgage loan larger than the house amount and buy a car ...


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