Do you know how much home you can afford? Depending on the loan type you’re using, whether it’s FHA, VA, or a conventional loan, 43% to 50% of your gross monthly income can be used to cover the cost of the home purchase and any associated credit liabilities. The home purchase itself will be comprised of expenses such as taxes, insurance, and, potentially, homeowners association dues. To hear my full message on this subject, watch this short video.
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