Before you start looking for your dream home lets figure out how big you can dream.
Knowing your true budget is the first and most important step in buying a house.
Determining the mortgage you can carry is based on a relatively simple calculation of the loan amount, down payment, interest rate and ammortization period.
A good rule of thumb when figuring your monthly housing cost is that it should not exceed 32% of your gross family income or 40% of your gross monthly income.
3). Get your Mortgage Pre-Approval