Before you house hunt...⁠

⁠

Know Your Budget!

⁠

Your budget involves more than your mortgage payment. Here are the main things you need to know that make up your monthly home buying budget. ⁠

⁠

Before you get your heart set on house⁠

Before you talk to a realtor⁠

Know your budget and get pre-approved by your lender⁠

⁠

I promise, it will save you a lot of time and heartache when you have to pass on that house that you got attached to!⁠

Here are some basic things that you will need to know to know your TOTAL payment you qualify for:

- Purchase price

- Loan amount

- Interest Rate

- Principal and Interest

- Property Taxes

- County Taxes

- Flood Insurance

- Hazard Insurance

- Mortgage Insurance

- PMI

- HOA

- Claims on property

For a visual aid to this episode, visit Beyond The Loan on YouTube: Quit asking how much you qualify for and here's why.

https://youtu.be/fml2yBkX5Ns