Good Afternoon Everyone! Happy Saturday, todays post is going to be all about finance and mortgages. I think this is such a great topic to talk about, I am turning 26 at the end of January and this is something me and my family will be thinking about hopefully soon.
Now I don’t know about you but I can find buying houses and mortgages very intimidating and scary and to be honest it all just sounds like jargon to me. I have even sometimes had to just stop thinking about it all because of how much you need to know.
Obviously there is buying a house part but you also need to make sure you are budgeting correctly for everything else that is a priority. Now with a Mortgage Calculator there are many things that you can do, such as a monthly payment calculator, with this you can see a monthly payment estimates for a given price.
You also can check your minimum income requirement, so lets say you found somewhere that you are interested in. You can check how much your income needs to be to be able to afford it, you can do all this yourself rather than spending hours on the phone with advisors.
You can also calculate your home loan limit, so if you are looking to get a loan for a house you can see how much you are eligible to borrow.
You can also check your DTI which is to see your current front-end & back-end debt to income ratios.
There are so many handy and easy options you can choose on the website to be able to make buying a house a lot more simple.
There are so many great mortgages out there it can take a very long time to find the right one for you.
This post is in collaboration however all opinions are my own.