Buying a home is the biggest financial decision you can make. Knowing your budget and how much you can afford to spend on a home is a critical – dare we say the most important – piece of information you can have going into the homebuying process.
So how do you know how much you can afford? Take into consideration these items listed to determine what your homebuying budget looks like.
First, you’ll need to gather some information about yourself:
- Your monthly income
- Monthly expenses and how much debt you owe each month
- How much you have saved for a down payment and closing costs
Then, you’ll need some information about the home you want to purchase:
Once you have a good grasp on these numbers, you’ll be able to estimate how much money you have each month for a mortgage payment. You can also use our mortgage calculator to see what home prices are within your budget!
Now that you know what you’re working with, are you ready to start the home search? Get in touch with one of our mortgage professionals to begin your homebuying journey! Owning a home could be the best decision for you and your family. If you think buying is the next step for you, visit our Purchase Page to learn more, or contact one of our mortgage professionals today. We’re here to help you get started.
Why MHC Mortgage, LLC?
At MHC Mortgage, LLC we believe that the dream of homeownership can be a reality. Our mission is to offer a more focused, customer-oriented home-buying experience. From pre-approval to closing day, we’ll provide the tools and resources to make the home loan process simple and stress-free. As a joint venture with FBC Mortgage, LLC and My Home Communities, we are able to deliver our clients personalized, local service with the support and stability of an established national lender.
Buying a home is one of the most important financial decisions you will make. Understanding mortgages and the home buying process can help make it less stressful, and so can partnering with a mortgage lender you can trust. At MHC Mortgage, LLC, we’re dedicated to helping you finance your dream home.
All information presented is for educational purposes only and not intended as financial advice.
Learn More About Mortgages
Many buyers find that applying for a mortgage can trigger an influx of marketing from other companies trying to win their business. Fortunately, there are ways to prevent this flood of offers from overwhelming you during an already stressful time.