To figure out your budget, figure out all the money you have coming in every month minus all your expenses. 

Down payment

The down payment is usually a percentage of the price of the new home, that the buyer pays before closing. The bigger the down payment, the lower amount you will need to borrow, thus lowering your monthly payments, and possibly your interest rate.  You need to figure out how much you can put down.

There are some costs associated with buying a new home.  You need to understand each one, whether or not it is a one time cost or a monthly, semi annual, or yearly cost.  You need to know how much each cost is and figure them into your monthly budget. 

Monthly costs:  The amount of your payment with home owners insurance, taxes, HOA's, PMI insurance, etc...  You also, need to look at average utility bill cost-water, gas, electric, cable, phone etc...

One time costs due at or before closing:  Loan originating fee; appraisal fee; credit report; additional loan fees; escrow; settlement or closing fee; title insurance; attorney's fee; notary fee; recording fee; pest inspection; home inspection fee; etc...  There may be others depending on loan type and negotiation with the seller.

Now, you can figure your budget.  Remember to count all your available money, salary, additional income, and subtract the down payment, monthly payment, closing costs, moving costs, and additional costs you might accrue.  Now you are ready to search for your new home. 

I can help put you with this.  I can put you in-touch with a loan person that I know can help you achieve you dreams.  We, together, can help you find your jewel. 

Let Earl "The Pearl" Sorrells help you uncovered your jewel. 

661-400-9485

efsorrells@aol.com