ย
๐ก๐ฐ How to Determine Your Home Price Range ๐ธ๐
Calculate your income ๐ผ
Monthly earnings from a job, investments, etc.
Assess your down payment ๐ฒ
Aim for 20% to avoid PMI
Check your credit score ๐
Higher score = better rates
Evaluate your debt-to-income ratio (DTI) โ๏ธ
Keep it below 43% for better approval odds
Use the 28/36 rule ๐งฎ
Housing costs โค 28% of gross monthly income
Total debts โค 36% of gross monthly income
Factor in additional costs ๐
Property taxes, insurance, HOA fees, etc.
Get pre-approved ๐ฆ
Gives you a clear budget to work with
Remember: What you can afford may differ from what you’re comfortable spending! ๐ก
#HomeBuying #MortgageTips #RealEstateAdvice #HouseHunting #FinancialPlanning