August 2016

Found 1 blog entry for August 2016.

 

We get it. Mortgages are tricky and confusing. There’s a ton of information out there, and many of first time homebuyers can make some big mistakes if they aren’t careful.

In this blog post we’re going to identify some common mistakes - and how to avoid them.

1. Committing too much income to owning a home. It is important to track monthly costs, including savings for your future. You want to make sure your monthly mortgage still allows enough budget for everything else in life. We see many people end up “house-poor” at a young age, and household debt can begin to skyrocket. When it comes time to budget, allow approximately 28% of your income on a home. This starts with the mortgage, but includes all the costs to owning a home, like insurance

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