By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget.
When you’re ready to take the leap from renting to buying your first home, answering the simple question “how much house can I afford?” is a great first step. Here are four steps to determining how much mortgage you can afford:
Prepare a detailed budget
Factor in your down payment
Consider your overall debt
Use your rent as a mortgage guide
Bank Mutual wants to help you reach your home ownership milestone. We are a resource for first-time home buyers trying to navigate the overwhelming home buying process. Our online tools can help you determine how much you can qualify for and personalize a quote based on current rates and Bank Mutual mortgage programs.
Want more help determining how much house you can afford? Check out our blog article, or find a loan officer near you..