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Making the Monthly Mortgage Payment
 When shopping for a house or condominium in Hoboken, one of the first things you might do is establish a budget. You'll start with the cost of the home you feel you can afford, add on the cost of moving and an amount for any necessary renovations. Based on this number you would establish a target budget and search for homes that do not exceed that amount. There is, however, a much more practical way to look at it.
If this is a first-time home purchase, you may want to re-evaluate your budget and base it on the monthly mortgage payment that best fits your circumstances. The cost of your Hoboken home is only part of the equation. Most buyers will be applying for a mortgage, and the monthly payment will be dependent on a number of factors. Consider that the length of the mortgage, amount of the down payment, the interest rate, taxes and insurance could completely change what you can actually afford.
Along with a monthly mortgage payment you feel comfortable with, add any expected maintenance fees, HOA fees, the bills to run and maintain your home and all of the other bills you have now, plus the amount ... more

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