Mary Catchur and Marimark Mortgage were featured in an article in Chase.com: The five essential rules for homebuying.
Mary’s contributed to the article with information about figuring out how much you can afford to spend for a home and nailing down your financing.
When it comes to figuring out how much you can afford to spend for a home, remember to budget for closing costs. Typically, you’ll need to pay five percent of the purchase price to cover extra expenses like lender fees, home inspection, and homeowners’ insurance. Also, consider that lenders will look at how regularly you get paid, so if you rely on commission or bonuses lenders need to see consistent compensation.
Read the article: The five essential rules for homebuying.