It pays to not get more home than can be reasonably afforded. A home-buying budget can help create a financial cushion when first purchasing a home, making it easier to make regular mortgage payments and upgrades to a home. Know how to get started on a realistic home-buying budget today.
Review Current Expenses
When buying a home, the amount of debt to an applicant's income will be of interest to lenders. Before looking for a mortgage lender, review your credit history, credit card and banking statements over the last three months. Assess how much money generally goes towards expenses like:
- Car or