The first step in calculating how much house you can afford is determining the size of your down payment on the house. The required down payment amount will depend on various factors... SWIPE UP to read more.
There are several types of mortgages, including 30-year fixed-rate loans, 15-year fixed-rate loans, and adjustable-rate mortgages, where the interest rate changes after every 3 to 5 years. The most popular type of mortgage... SWIPE UP to read more
Rule of 36% - A debt-to-income ratio greater than 36% is considered high-risk for lenders and may make it difficult for you to get the best interest rate. Debt-Income Ratio Credit Score
Closing costs are taxes and fees charged by the lender and other parties involved in the home purchase transaction.
These two costs can vary drastically from one city to another, so it’s essential to do your research before settling on a final number.