May 24th, 2017

Can I afford to buy a home?

One of the most important questions that will need to be answered before taking the leap to home ownership is whether or not you can afford to buy, and if so, how much you can afford.

In an article by Freddic Mac, a ballpark estimate of what you might be able to afford is 2.5 times your annual gross income.  Of course there are variables to consider along with that, like interest rates, and your debt and credit history.  But this calculation gives you a good starting point.

Want to learn more about buying a home?  Cornerstone members can get free homebuyer counseling, articles about buying a home, and even take a homebuyer’s course from Greenpath.org.

Category: Buying a Home

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