1st-Time Home Buyer? What is your budget?

• Most lenders would suggest that you should spend no more than 28% of your gross monthly income on a mortgage payment.  This is to include Principle, interest, taxes and insurance.
• They also suggest no more than 36% on your total debt.  This should include things like your mortgage or rent, student loans, credit cards, car payments.
• Remember, you need to also consider your current living expenses such as food, medical expenses, transportation ,education costs, child care and unexpected emergencies.

To help guide you more, please give us a call.