FINANCIAL

Determine Your Budget

Consulting with a mortgage lender early in the buying process is highly recommended Generally it is recommended to stay within a budget of 3-5 times your annual income when purchasing a new home

Your mortgage lender will take other expenses into consideration when determining your housing budget such as: down payment, legal fees, taxes, home inspection costs, appraisal costs, and renovation costs.

HOW MUCH SHOULD YOUR DOWNPAYMENT BE?

Down payment amounts will be determined by what type of loan you are applying for. Down payments can range from a minimal of 0%-20% of purchase price

You should consult with your mortgage lender to determine what type of loan is best for your circumstances.