Home Buying Center
making smart "buying a home" decisions
view home affordability tips
So you're looking to buy a home soon or in the near future? What affordability steps should you take: |
Start Saving Money: |
You will need at least 5% down and another 5-6% of the home purchase price for closing costs. |
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Maintain Good Debt Ratios: |
It's called the 28/36 rule - it measures the amount of total debt-to-income that lenders will approve. The higher the ratio, the less likely you will be approved for best financing. |
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Clean Up Your Credit Report: |
The higher your credit score, the lower your financing costs. |
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