Saturday May 27, 2017
 

Home Buying Help

How Much of a Mortgage Can I Afford?

While there are a lot of great deals available on houses right now, it’s an intimidating time to be a home buyer.  Looking around, you see many other homeowners who are losing their homes—perhaps the house you’re looking into buying is up for a short sale or getting foreclosed on.

How do you make sure that doesn’t happen to you in a few years?

You’ll need to carefully calculate how much of a mortgage you can afford before you sign the paperwork.

Home Loan Basics

Thinking of buying a home?  Then you’re going to need a mortgage, unless you’ve got a lot of cash on hand (in which case, everything is a whole lot simpler).

Assuming you’re most people though, you probably don’t have but a small percentage of the money you need to purchase a house in full.

You’ll be asked to put that percentage down as an initial down payment, and then you’ll need to take out a mortgage to pay for the rest.