Buying a home is a big life change and is likely to be one of the biggest purchases that you make in your entire life. Even if you feel like you can easily afford a down payment as well as monthly mortgage payments, there are some important things that you need to take into consideration before moving forward. Learn Borrowing Potential One of the biggest things that you can do to prepare to buy a home is to find out your borrowing potential. It is important to check with several financial institutions to be sure that you are going to be able to borrow the amount you need with the lowest rates of interest. Checking with different institutions may leave you surprised at the fact that you may be able to borrow a much different amount than what you first thought. Saving Save your money before you buy a home. While saving is a great way to get the money you need for a down payment, you should generally save around double of...
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