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Step 1 – Set Your Price Limit
It is important to remember how much you have in your budget to pay each month for your mortgage. Don't forget to set a mortgage payment that allows you to meet your monthly expenses as well as your long-term goals. Here is some additional advice. Set a BUDGET with:
- any financial support or obligations you pay on a monthly basis
- utility costs and future home maintenance and repair costs
- include savings for other goals such as having children, college tuition, retirement
- THEN, include an estimated mortgage payment including taxes and insurance which you can safely afford each month
Review the tool Calculate the Mortgage Payment You Can Afford
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