Radio Spot #9 - "How much house can you afford? II"
Before you set out to buy a house, you need to know: HOW MUCH HOUSE CAN YOU AFFORD?
Getting the answer right can mean the difference between enjoying many happy years of home ownership, or finding yourself in serious financial trouble.
The price you can afford to pay for a home depends on at least six factors:
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Your gross income
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Your outstanding debts
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Your credit history
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The type of mortgage you select
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Current interest rates
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How much cash you have on hand for down payment, closing costs and any cash reserves your lender may require.
Before you start shopping for your home, check with at least three different lenders. Reputable lenders will be glad to help you calculate the amount you can afford and PREQUALIFY you for a loan.
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