how to budget: What Will My Payment Be?
- 09/04/11 03:43 AM
Ok, you are ready to get out of the apartment living and into your own home...but what price house should you look for? Where do you start? Well, you start with knowing your expenses...all your expenses. Basically you will need to know what you are spending your money on and what if any expenses you can cut out or reduce. What lenders look for The general rule of thumb formulafor home buyers who are able to provide at least 10% of the purchase price as a down payment: Housing Expense = Mortgage payment (Principal and Interest) + Taxes + Homeowners Insurance … (3 comments)
Ok, you are ready to get out of the apartment living and into your own home...but what price house should you look for? Where do you start? Well, you start with knowing your expenses...all your expenses. Basically you will need to know what you are spending your money on and what if any expenses you can cut out or reduce.
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