5 Ways to Know How much House you can Buy
1. Calculate how much you are paying for rent. Then take a good look at your monthly budget and figure out if you can afford taxes, insurance and home repairs. Right now, there are probably homes in your neighborhood you could buy for not much more than the rent you are paying.
2. Most financial experts top off the money you should pay on your mortgage to be a third of your gross income. Calculate the price of your home in reverse that way.
3. Find a mortgage broker who will give you a range of value your home can fall in and also your monthly payments.
4. Use this handy calculator at Bankrate.com
5. Ask Ginnie Mae!
Good luck!
