I want that big house. But how much of a mortgage can I truly afford?
By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
It’s very easy to assume and or want something without always thinking it through. Emotions can play a role in your decision when purchasing a new home. But are you always asked the right questions or led down the right path? How much of a mortgage can I have now is a question often asked. But what about what you can personally afford, without strapping yourself financially on a monthly basis. Many focus on the interest rate or how much of a house they can afford and lose site of their basic goals. When a loan officer starts asking the borrower a question, in my opinion, the first thing that should be asked of that borrower is how much of a mortgage payment can they afford and not based on their income. Secondly, the loan officer should be asking about the buyers goals also. Thi...