One Of The Best Ways To Prepare For A Mortgage

When I decided to purchase my first home, I played a little financial game with myself.  I determined that I could afford a mortgage of about $1,500 per month, maybe even stretching up to $1,750.As I began my search for a home, I knew that going from my $600 per month rent to a $1,500 per month mortgage would be a big jump.  So I decided to pretend as if I already had this mortgage.  That would help give me an idea of what actually having a mortgage payment would feel like, and would help me spend as if it already existed in my budget.  Click this link to find out one of the best ways to prepare for a mortgage.

When I was looking for a home, I was sharing a two-bedroom apartment with a friend and paying $600 a month, plus utilities. It was a steep jump to go from $600 to $1,500 a month, so playing this game was important.At the time, I was budgeting using an app, so I knew I could handle the increase.

I could maintain one of my key money ratios, paying less than 30% of my salary to housing. But I still needed to know how it felt. It’s one thing to see it in an app and another to feel it.