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How can I afford a new home?
Owning a home is the apex of every person’s dream. It symbolizes stability on one’s finances. But making that dream become a reality is not easy. There are a lot of aspects to consider in buying a home. And the question is, How much can you afford? To know the answer to that is to consider your income, credit rating, current monthly expenses, possible downpayment and interest rate. The whole process of buying a home is tedious and an exhausting experience, but with the help of real estate experts, mortgage professionals and some useful tips, you can determine how you can afford a new home.
 
At the height of the economy, a lot of Americans owned their home. But after the recession hit worldwide market including right here in Georgia, many homeowners lost their homes to foreclosures. One of the root causes of the housing crisis was due to bad mortgages. Many of these homeowners have submitted themselves to flexible interest rates under the impression that they would be able to sell their homes before the rates jumped higher. Many among these homebuyers suffered from predatory lenders who persuaded them to sign into subprime loans with penal terms.
 
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