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Home Buying 101 -- How Much House Can You Afford?
Are you ready to buy a home? How much of a mortgage loan can you afford? How's your credit? What size house do you need? How are your cash reserves?
The more Q&A, research and soul searching you do in advance, the smoother the process will be later on. Let's look, then, at one of the key questions from this list.
What Can You Afford?
Before house hunting, you should determine how much of a mortgage you can comfortably afford. "Comfortably" means you can pay your mortgage each month and still have money for living expenses, savings, and quality-of-life niceties.
In other words, you don't want a mortgage payment that forces...
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