Home Mortgage 101

Very few people can purchase a home without use of a mortgage. When financing a new home is the only option left, there are many financing options that are available to meet your needs. Discussed below are many of these options that are popular today. Even if you already have a mortgage, you can learn options to use later in life or share with others.

First Thing is First

How much can you afford? A good general rule of thumb is to limit your mortgage to roughly 29% of your monthly gross income as most mortgage lenders will look for this. Knowing how much you can spend before you looks is key. It is certainly a great idea to get either a pre-qualification or pre-approval before shopping for a new home; especially for first time home buyers...
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