
Choice two, change the budget. This is an option that may not be as easily changed as one's expectations. If a buyer starts out at the maximum approved level then they have little choice here unless they have the cash to put more down on a purchase.
When considering a home purchase one must be aware of the environment. Where are interest rates going" Last week the 30 year rates increased a half percent. Increasing rates result in decreased purchase power for those obtaining a mortgage.
Add to the equation increasing prices and the longer a buyer waits the less they will be able to purchase.
So, are you ready to buy that house?