I always tell my clients that it is important for them to determine what a COMFORTABLE monthly payment would be and not necessarily to purchase a home at the mortgage for which they can qualify. These two numbers can vary WIDELY! When determing the true cost of home ownership it is a good idea to consider all costs. This is a basic list that you may find helpful when budgeting for your new home.
1. Mortgage : Principal and Interest payment. 2. Property taxes which is based on your purchase … (7 comments)
What costs are involved in owning a home in Maryland?
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