Question:
Just because I qualify for a certain amount of money for a loan, should I really go that high?
Answer:
Absolutely not. It is very important that you consider all aspects of owning a home, i.e. utilities, maintenance, etc, and also any other living expenses you may have. These are factors your Lender does not consider for you when approving you for a loan. But they are real costs that will affect your monthly budget. Be sure to budget a comfortable payment well within your means, instead of the maximum you are qualified for.
If you have a mortgage question, ask away! Either:
- E-mail asksue@pcMortgageAdvisor.com
~ OR ~ - Leave a comment here on the blog below
-- If you include your e-mail address we will respond to you directly.
Check back next Friday for more mortgage answers!
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