What savings do you need when buying a home?
Factor in principal and interest, property tax and homeowners insurance to your payment.
Down payment, purchase price, and loan terms and interest rate, affect your loan amount.
Explore the difference between fixed rate and adjustable rate mortgages (ARM).
If you own a home, you need to factor in for its maintenance expenses.
Learn how to properly budget for principal, interest, taxes and insurance (PITI).
Calculate your debt-to-income ratio (DTI) and learn how to lower it.
Tips include talking to a lender, investing and creating a special savings account.
You can estimate your monthly mortgage payment if you have an idea of how much your new home will cost.