4 Tips To Determine How Much Mortgage You Can Afford
By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
As a Realtor in Burbank, CA in Los Angeles County, I strive to educate and inform my friends and clients of the happening in the real estate field, giving you insight, advice and commentary. If you have a friend who would appreciate my blog, please forward it and thanks. 4 Tips To Determine How Much Mortgage You Can Afford - By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget. 1. The general rule of mortgage affordability As a rule of thumb, you can typically afford a home priced two to three times your gross income. If you earn $100,000, you can typically afford a home between $200,000 and $300,000.To understand how that rule applies to your particular financial situation, prepare a family budget and list all the costs of homeowne...
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