So, you’ve decided to purchase a home. But, before you start the search with your Century 21 Realtor, you need to figure out how much you can afford. According to an article on Century21.com, you should review your income, savings, and debt to figure out how much home you can afford. Early on in the search process, you’ll want to get a pre-approval on a mortgage loan. It will make the home buying process much easier and allow you to move quickly on an offer when necessary.
The price you can afford to pay for a home will depend on several factors, such as gross income, the funds you have for a down payment, credit history, debt, type of mortgage and current interest rates.
Read the entire article and learn more on Century21.com here.