Each case is different, and your personal financial circumstances will have an impact on how much home
you can afford.
However, you MUST understand the relationship and impact interest rates, term of loan, points, and type of
loan can have on your overall financial picture.
Let’s start with the “amount financed” first. Many people often pay cash or put 20% or more down as
equity. The reasons they do this are:
“The bank required us to…”
“We’ve just always put down this amount…”
“We wanted a lower payment.”
Problem is, these reasons could cost you thousands of dollars.
The answer for how much you can put down on your home is different for most people. However, I have
learned over time that
There Are NO General Rules Of Thumb About Financing Your Home.
