For many Americans, the dream of owning a home is a goal worth striving for. Preparing for the transition starts with getting your personal budget in order to be able to afford a house. Premium Mortgage Corporation, headquartered in Rochester, NY, and serving Buffalo and Syracuse, NY, as well as Barre, VT, is committed to helping their clients take the necessary financial steps to get them ready for the mortgage loan process from start to finish.
If you’re in the home buying market, here are a few tips to help prepare your budget for the task:
- Track Expenses: Make a list of all of your current monthly living expenses. Doing so will give you an idea of where your income is going and whether you may need to scale back. Don’t forget to include entertainment and other costs that may get overlooked.
- Know Your Take-Home Pay: Note how much you take home each pay period after taxes and other deductions. If you have a live-in significant other, combine the amounts to get a better picture of how much income is coming in each month. Knowing this figure is critical to determining the estimated amount that will go towards the monthly mortgage loan payment.
- Calculate Mortgage Costs: Use a mortgage calculator to plug in your personal income and expenses. The calculations will provide a rough idea of your monthly mortgage loan payments based on interest rates and other factors. Premium Mortgage Corporation has a variety of mortgage calculators to help you look at different financial scenarios.
As the region’s leading mortgage broker, Premium Mortgage Corporation specializes in getting their clients home loans designed to accommodate their unique budgets and incomes. The team of professional loan officers has the expertise and training to assist borrowers through a number of financing programs.
Make the dream of homeownership a reality! Premium Mortgage Corporation is ready and willing to help you get there. To get started, call 1-877-690-7240 for a free consultation. Check out their website for extensive information on mortgage rates and the loan application process.
Corporate Contact Information:
2541 Monroe Avenue
Rochester, NY 14618
NMLS# 3254 Equal Housing Lender
Licensed Mortgage Banker NYSDFS