- What should you consider?
- Monthly Income
- Down payment
- Monthly payment
- Payback period
- Current level of debt
- What are some mortgage tips?
- Payments should be less than 25% of your monthly income
- Total monthly payments should be less than 40% of monthly income
- Put down 20% to reduce payments
- Ask about 15 to 20 year loans because these reduce interest in the long-run.