If you have ask yourself whether it is good time to continue to rent or buy a home here a few steps that could help you decide or you can visit www.akilsellshomes.com for information on buying vs renting from Resmedia 1. What will monthly costs be, and can I afford the payments? Keeping mortgage payments under 30 percent of your monthly income is a good rule of thumb. If you can't keep mortgage payments below that, you may be better off renting for awhile. 2. What other debt do I have? Total rent or mortgage payments plus credit obligations should not exceed 35 to 40 percent of monthly income. 3. What is my credit score? Can I qualify for a good interest rate? A high credit score indicates strong creditworthiness, and that qualifies you for better interest rates on a mortgage. Maxing ...
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