Judy Korzenowski's Blog
Many factors come into play when determining whether you can afford to buy a house. Since the monthly rent for an apartment is often close to what a mortgage payment would be, you can't help but wonder if your rent money would be better spent building equity in your own home.
While this is often the case, first-time home buyers often underestimate or overlook expenses that accompany home ownership. Although a mortgage broker or bank loan officer can help you calculate the maximum mortgage you can afford, here are a few tips to keep in mind as you weigh your options.