So you decided to purchase a home? Now that you’ve made this decision the next, and really very important, question is how much home can you afford?

In order to determine how much home you can afford we need to look at two things.

1. How much of a downpayment can you make?
2. How much can you pay monthly for mortage interest and principle payments, as well as for property taxes and insurance?

Until you first find answers to these two questions, you can’t really begin to look for a home.

In the next few posts we’re going to spend a considerable amount of time taking a look at answering these two questions for home buyers.