Top 10 First Time Homebuyer Mistakes!
Submitted by admin on Wed, 08/26/2009 - 13:41
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- Adequate Funds
- Adjustable Rate Mortgages
- Alpharetta Ga 30022
- Ball Park
- Buying House
- Buying more house than you can afford
- Consequences
- Debt Payments
- Disclosure
- First House
- fixed rate mortgages
- Habit
- Hud
- Insurance Tips
- interest only mortgages
- Making a Budget
- Mortgage Brokers
- Mortgage Payment
- Mortgages
- Not being at the home inspection
- Not having the right real estate agent
- Not knowing the ‘real’ bills of the home you are buying
- Not picking the right mortgage
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Top 10 First Time Homebuyer Mistakes! 1.Buying more house than you can afford. Typically, you don’t want your mortgage payment to be more than 28% to 34% of your monthly income. For example, if your monthly income is $5,000, a total mortgage payment of $1,500 will be in the ball park. Of course, you need to include all of your overall debt payments which should never be more than 40% to 45% of your overall bills.
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