Like many things in life, planning ahead is the key to success. So, you should know the price range you can afford before you start shopping. Here are a few things to keep in mind:<\/p>

\u2022 Down payment<\/strong> \u2013 this is usually the percentage of the total cost of a home that you\u2019ll need to pay. The more money you put down, the more money you\u2019ll save on monthly payments and, in the long run, interest paid<\/p>

\u2022 Knowing what you can afford<\/strong> \u2013 how much house you can afford comes down to 3 factors: your monthly mortgage payment, your down payment and the amortization period or length of time it will take to pay off the loan<\/p>

\u2022 Getting pre-approved<\/strong> \u2013 this will really help you figure out what you can spend on a home because you\u2019ll know before you start shopping. And you\u2019ll be protected against rising interest rates as well<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

UNDERSTANDING HOME FINANCING Like many things in life, planning ahead is the key to success. So, you should know the price range you can afford before you start shopping. Here are a few things to keep in mind: \u2022 Down payment \u2013 this is usually the percentage of the total cost of a home that […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"http:\/\/lisapunch.ca\/wp-json\/wp\/v2\/pages\/127"}],"collection":[{"href":"http:\/\/lisapunch.ca\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/lisapunch.ca\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/lisapunch.ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/lisapunch.ca\/wp-json\/wp\/v2\/comments?post=127"}],"version-history":[{"count":6,"href":"http:\/\/lisapunch.ca\/wp-json\/wp\/v2\/pages\/127\/revisions"}],"predecessor-version":[{"id":230,"href":"http:\/\/lisapunch.ca\/wp-json\/wp\/v2\/pages\/127\/revisions\/230"}],"wp:attachment":[{"href":"http:\/\/lisapunch.ca\/wp-json\/wp\/v2\/media?parent=127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}