How much house can you afford?
Buying a house can be an overwhelming and intimidating process. If you’ve decided that homeownership makes sense for you financially and you’ve used this calculator to determine how much you can afford to spend on housing, it’s time to start the actual home buying process. For many, the first step in buying a home is securing a mortgage or other loan. To do this, your credit score or history must be in good shape because your credit score and credit card debts will have a significant impact on your ability to obtain a loan. Download ACCC’s free Understanding Credit Reports worksheet to learn more about what your credit score is, how it is calculated, and how to request a copy of your credit report. For tips on improving your credit score to apply for a mortgage, check out this blog post.
For more information and help with the home buying process, take our free home buying web seminar comprised of a series of nine lessons focused on the essentials of owning a home of your own. Each lesson is designed to discuss the individual elements of the home buying process. Start the web seminar here.