| Right, you have decided to buy a house, which means | | | | a great idea. You should try to put as much on your |
| that you are probably going to have to start saving | | | | credit cards and other loans as possible before you |
| some money to pay for it. The following are some | | | | apply for your mortgage. |
| pointers that will help you make a budget so you can | | | | After this, you need to work out how much you have |
| save enough. | | | | to save so that you can afford to put your down |
| Purchasing a house is generally a fantastic way to | | | | payment on your mortgage. Don't forget to budget for |
| invest. Sure, the market has been looking a little bit | | | | all the other expenses that come with buying a house, |
| shaky lately, but you can just about guarantee that in | | | | like inspection, closing costs and lawyers fees. |
| the future prices will start going up again. | | | | You also need to have enough money for all the other |
| You need to work out what sort of price range is | | | | costs, like insurance, maintenance, utilities, and all the |
| realistic for you before you begin looking for you new | | | | other expenses. Also, dependent on what your house |
| house. The last thing you want to do is buy a place | | | | comes with, you may need to buy more items to |
| that is unaffordable. | | | | make it livable. |
| During you application process for your mortgage, they | | | | By being aware of all these expenses beforehand, |
| will analyze you income to debt ratio. To make sure | | | | you are arming yourself so that you will not be |
| that you get the loan, you need to ensure that your | | | | surprised later on. If you start saving far enough out, |
| current debt and you new debt from the loan are less | | | | you will be prepared when it comes to buying your |
| than 36% of your gross earnings. | | | | house. |
| Thinking in advance and paying off your current debt is | | | | |