More House Than You Can Afford

[flip_it_fast]

One of the biggest mistakes home buyers make is to buy more house than they can afford. Many people will buy a house which takes them to their limit without taking into consideration different cost of home ownership and the initial costs of a mortgage.

It may look on paper that you can afford the house but you have to consider the unforeseeables as well.

Before commiting to anything you should shop around for a mortgage to get the best deal that you can.

You should learn what your FICO Credit Score mis at least six months before applying for a loan and make effort to improve it.

Consider all rates and fees that come with loans.

I would highly recommend staying somewhat below what you actually qualify for so that you don't have to worry about affording the payments six months down the line.