Buying Your First Home Alone Info
: Budget for an extra 2-5% of the home price to cover inspections, appraisals, and title insurance.
: To stay safe, ensure your monthly mortgage payment doesn't exceed 30% of your gross income , you have 30% of the home's value in savings (for down payment and reserves), and the home price is no more than 3x your annual income . buying your first home alone
Since you don’t have a second income to lean on, lenders will scrutinize your 4 C's of mortgage eligibility : Capacity, Capital, Credit, and Collateral. : Budget for an extra 2-5% of the
