I'm a 20-something with income is in the mid 20's but I may enroll in my company's 401k program which will reduce the gross income amount shown on my 'W2' to the low 20s. At some point in the lending process the lender will want my W2's from the last two consecutive years to determine how much money I am eligible to borrow for the purchase of a home. Thus by the conventional calculus, enrolling in 401k will reduce the amount of money I am eligible to borrow. Also, 401k deductions will lower the amount of money I am currently able to dedicate towards a saving a down payment and the reduction of current debts as I prepare to purchase a home. So I need help making up my mind since open enrollment for the 401k program is on July 1. Should I wait until I buy a home before I enroll in a 401k program?