Financing Your New Home
1. Establish a budget: Do you need to cover land purchase price and improvements such as clearing/well/septic along with the cost of the home?
2. Calculate your monthly payment: This calculator will give you a monthly payment of principal and interest. Don't forget to allow for home owners insurance and property taxes. These may be included with your monthly mortgage payment. You may also be required to pay Private Mortgage Insurance if you are putting less than 20% down on your home.
3. Make an effort to get prequalified so that you price a home that is realistic and avoid disappointment!