much home you can afford. Generally, you can afford
a home equal in value to between two and three times
your gross income.
Develop a wish
list of what you’d like your home to have. Now
prioritize the features on your list.
or four neighborhoods you’d like to live in.
Consider items such as schools, recreational
facilities, area expansion plans, and safety.
you have enough saved to cover your down payment and
closing costs. Closing costs, including taxes,
attorney’s fee, and transfer fees average between
2 percent and 7 percent of the home price.
credit in order. Obtain a copy of your credit
large a mortgage you can qualify for. Also explore
different loans options and decide what’s best for
the documentation a lender will need to pre-approve
you for a loan.
Do research to
determine if you qualify for any special mortgage or
down payment assistance programs.
costs of homeownership, including property taxes,
insurance, maintenance, and association fees, if
experienced Alfred Mitchell REALTORÒ
who can help you through the process 952-476-4321.
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ASSOCIATION OF REALTORSÒ
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