Your credit score is the biggest factor in determining your mortgage interest rate.
While a bank may tell you how much they are willing to lend, your personal budget is more important to avoid being "house-poor". first step in buying a house for the first time
The first and most critical step in buying your first home is before you ever step foot in an open house . This initial phase sets the foundation for your entire search, ensuring you don't fall in love with a property you can't realistically afford. 1. Determine Your "Real-Life" Budget Your credit score is the biggest factor in
Experts typically recommend that your total monthly housing costs (mortgage, taxes, and insurance) should not exceed 28% of your gross monthly income . This initial phase sets the foundation for your
Beyond the mortgage, remember to account for property taxes, homeowners insurance, HOA fees, and a maintenance fund (ideally 1% of the home's value per year). 2. Strengthen Your Credit Profile