How Much House Can I Afford? 5 Factors To Consider

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How much house you can afford to buy depends on various factors, including your income, the size of your down payment, any existing outstanding debts, and your mortgage interest rate.

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Here are the five key factors you should consider when determining how much house you can afford.

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1. Down Payment – How much down payment do I need to buy a house?

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2. Mortgages – What are the various types of mortgage options?

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3. Lender Criteria – What numbers and ratios are critical to mortgage lenders?

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4. Closing Costs – What are closing costs, and how much money do I need for it?

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5. Property Taxes and Insurance – What is the impact of taxes and insurance on how much house I can afford?

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FOR MORE ABOUT THIS POST, VISIT RADICAL FIRE

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