To find out if you are ready.  Calculate your income, savings, monthly expenses, and debt.  This will enable you to find out how much you can afford and how this amount will affect your monthly budget.

In the next post I …

What to consider before choosing the type of loan for your mortgage.

You need to look at your current financial picture.  Do you expect the current financial picture to change?  How long do you expect to keep this house.  How do …

What is a Co-Op loan?

A Co-Op loan is used when you purchase a condominium.  A conominium is a place a person owns their own apartment in a building with many apartments.  You share areas such as parking lots, elevators, recreational …

What is a Bridge Loan?

Bridge loans also have the terminology swing loans.  This loan is used when you are selling you home and need the proceeds from this sale to purchase your new home.

If your current home does not sell …

Now go to a mortgage calculator online.  In the payment area put the figure you calculated.  Put in a current fixed interest rate.  If you are not putting 20 percent down add a 1/2 percent to the rate to calculate …