"How much house can I afford?" Have you ever asked yourself that question and are still wondering the answer? Well, I have the answer for you.
There is no magic dollar amount that you should be looking for regarding the "perfect home". How much house you can afford is as unique as you are; it's based on many factors, including your location, income, savings, personal preferences, and most importantly, the house-buying plan you have in place.
The most ideal way to buy a house is the 100% -down plan. Sounds weird, does not it ?! But think how much fun that would be! Do not borrow money. Period. If I can not get you to postpon the purchase that long, I consistently suggest you save a down payment of 20% or more, choose a 15-year (or less) fixed-rate mortgage, and limit your monthly payment to 25% or less of your … Read More