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How to Buy a House

Don’t go it alone.  There is not a fee for having a REALTOR® by your side when buying a home.  A buyer’s agent will look after YOUR best interests and has a fiduciary responsibility to you alone.  Best of all, for a buyer, the commission fees are generally paid by the seller.  There is no reason not to have an agent by your side, loyal to you, when you are ready to buy your dream home.

How Much Should You Pay for a New Home?

There are many theories about how much a person should spend on a home. There is no key dollar amount that you can plug in.  It will depend on your ability, income, location, and motivation.  If you are paying cash for a home, consider the affordability of taxes and insurance.  If you are going to borrow money, then you need to be able to live within your means and comfort zone as well as lender guidelines.

Lenders generally allow your mortgage payment to be about 26-28% of your gross monthly income.  They will also factor your existing debt into the equation as well.  They will not allow your total of all monthly debts to exceed 36-40% of your gross monthly income.

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