|
How Much Can I Afford:
When making this decision, all to often people will put their trust in what a loan calculator or the lender says. Neither the lender or a calculator that asks for limited information are aware of your lifestyle and personal situation. In making this decision it is best that you determine how much you can comfortably afford to write a check for each month. Take into consideration all aspects of your life, not just what your bills are. Remember to budget in for retirement savings, entertainment, vacations, and other things you like to do. Its no fun to make yourself "house poor." After you determine how much you can afford to spend each month, we can back into a loan amount. At that point, if the loan amount is not high enough to allow you to purchase the type of home you want, you can take a second look at your budget and determine where you can take some money from and increase your housing allowance.
|
